Chapter 10 Discussed a Study by Clark and Wilkes-Gibbs in Which

question 23

Multiple Choice

Chapter 10 discussed a study by Clark and Wilkes-Gibbs in which two people try to communicate about the order in which various geometric figures are to be arranged. The research showed that

• A) people could not accomplish this task unless they were close friends.
• B) people soon developed a shorthand communication system.
• C) people typically increased their hand gestures at the same time that they decreased their verbal output.
• D) people seem to remain fairly stable across trials in terms of the number of turns required to agree upon a figure.

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Definitions:

Dollar-Value LIFO

An inventory valuation method that uses the last-in-first-out (LIFO) principle, adjusted for changes in the dollar's value, to account for inflation.

Year-End Price

The final market price of a security or an asset on the last trading day of the fiscal year.

Price Index

A statistical measure that examines the weighted average of prices of a basket of consumer goods and services, indicating cost of living changes over time.

Realized Holding Gains

Profits made from the sale of an investment that has increased in value over the time it was held.