If the Money Supply Grows 5 Per Cent, and Real

question 15

Multiple Choice

If the money supply grows 5 per cent, and real output grows 2 per cent, prices should rise by

• A)5 per cent.
• B)more than 5 per cent.
• C)less than 5 per cent.
• D)None of these answers.

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Definitions:

Diffusion of Responsibility

A phenomenon where individuals in a group are less likely to take action or feel a sense of responsibility because the responsibility is perceived to be shared among all group members.

Darley and Latané

Psychologists known for their work on the bystander effect, demonstrating that the presence of others can decrease an individual's likelihood to help someone in distress.

Milgram's Obedience Study

Milgram's obedience study is a psychological experiment conducted in the 1960s which demonstrated the extent to which individuals would follow orders from an authority figure, even when it involves hurting someone else.

Learner

An individual who acquires knowledge or skills through study, experience, or being taught.