Use the Following to Answer Questions

question 62

Multiple Choice

Use the following to answer questions :
Scenario I
Thousands of words exist in our language to describe aspects of personality.In a search for fundamental traits,psychologists have used statistical techniques such as factor analysis to identify the core dimensions underlying the structure of personality.Over the years,different analyses have yielded different results.Cattell (1950) proposed a model of personality based on 16 unique factors.Eysenck (1967) argued that the thousands of specific behavioural tendencies often attributed to personality can be adequately described by just two dimensions.One dimension (extraversion) ranges from introversion (low scores on this dimension) to extraversion (high scores) ,and the other (neuroticism) ranges from emotionally stable (low scores) to emotionally unstable (high scores) .Today,the most commonly accepted model of personality-the Big Five-posits the existence of five unique dimensions of personality: openness to experience,conscientiousness,extraversion,agreeableness,and neuroticism (McCrae & Costa,1999) .Consistent with Eysenck's model,each dimension reflects a range of behavioural tendencies.For example,agreeableness might range from helpful to uncooperative.Someone low in conscientiousness probably will miss deadlines for work assignments,and persons who never travel from their hometowns will score low on openness to experience.Research has shown that these five dimensions of personality appear in all cultures and age groups.
-(Scenario I) Factor analytic techniques are used by personality researchers to:

• A)identify the implicit motivations underlying personality.
• B)arrange many traits in a hierarchical structure under a small number of dimensions.
• C)ensure that the frequency of personality factors in a sample is representative of those in the population.
• D)determine if the underlying dimensions of personality are causes or products of behaviour.

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Definitions:

Nominal Interest Rate

The stated interest rate on a loan or investment, not adjusted for inflation.

Rational Consumer

An assumption in economics that consumers aim to maximize their utility or satisfaction from consumption choices, given their budget constraints.

Cobb-Douglas Utility Function

A specific form of utility function used in economics to represent preferences, where utility is derived from a combination of goods, typically modeled with constants representing the elasticity of substitution between those goods.

Real Interest Rate

The interest rate that has been adjusted to remove the effects of inflation, reflecting the real cost of borrowing.