Heather Told Her Friends She Just Bought $1000 Worth of New

question 153

True/False

Heather told her friends she just bought $1000 worth of new clothes. Heather's statement illustrates the "unit of account" function of money.

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Definitions:

Distinctiveness

The degree to which something is perceived as being different or unique compared to others.

Consistency

The quality of maintaining uniformity, coherence, and reliability in actions, attitudes, or conditions over time.

Consensus

A general agreement among a group of people, often used as a means of decision-making.

Fundamental Attribution Error

Refers to the tendency of individuals to overemphasize personality-based explanations for behaviors observed in others while underestimating the influence of situational factors.