You Suspect That a Young Child Is in Piaget's Formal

question 289

Multiple Choice

You suspect that a young child is in Piaget's formal operational stage. Which of the following would you look for to confirm your suspicion?

• A)A lack of object permanence
• B)Success at a conservation task
• C)Failure with the three-mountain problem
• D)The ability to think abstractly and form hypotheses
• E)Evidence of proximal development

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Definitions:

Permanent Income Hypothesis

Formulated by Milton Friedman, it states that the strongest influence on consumption is one’s estimated lifetime income.

Paradox of Thrift

An economic theory suggesting that while saving is beneficial to an individual, increased savings by the entire population can lead to a decrease in aggregate demand, ultimately reducing savings at a macroeconomic level.

Theory of the Leisure Class

A socio-economic theory presented by Thorstein Veblen, which critiques consumerism and status-driven consumption, emphasizing the social uses of wealth and leisure to display status rather than for utility.

Theory of the Multiplier

An economic theory suggesting that an initial increase in spending leads to increased income and consumption, further magnifying economic activity.