Define the Following Terms and Explain Their Importance to the Study

question 7

Essay

Define the following terms and explain their importance to the study of macroeconomics:
a. money
b. M1
c. near money
d. bank run

---

Definitions:

Admirable Actions

Behaviors or deeds that are commendable and deserving of respect or admiration due to their moral, ethical, or noble nature.

Shameful Actions

Behaviors that one perceives as morally wrong or dishonorable, often leading to feelings of shame.

Fundamental Attribution Error

The tendency to overemphasize personality traits and underestimate situational factors when explaining others' behavior.

Variety of Situations

Different or diverse scenarios, settings, or conditions in which events occur or actions are taken.