According to Goethals & Nelson (1973), When Do We Accept

question 18

Multiple Choice

According to Goethals & Nelson (1973) , when do we accept the opinions of dissimilar sources more readily than similar sources?

• A) Never-the opinions of sources similar to us are always accepted more readily than the opinions of sources dissimilar to us
• B) When the issue concerns a matter of taste or judgement (e.g., what is the best movie in cinemas at the moment?)
• C) When the issue concerns a matter of fact (e.g., who won the last Football World Cup?)
• D) Always-the opinions of sources dissimilar to us are always accepted more readily than the opinions of sources who are similar to us

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Definitions:

Private Investment

Spending by businesses or individuals on capital goods, such as factories, machinery, and homes, which is used to produce goods or services.

Demand For Loanable Funds

The total quantity of loans that borrowers are willing to take out at various interest rates, holding all else equal.

Equilibrium Interest Rate

The interest rate at which the quantity of loanable funds demanded equals the quantity supplied, leading to a balance in the money market.

Equilibrium Level Of Saving

The point at which the amount households save equals the amount they invest, resulting in a balance within the economy's financial resources.