At the Beginning of a Year, Decision Makers Expect the General

question 48

Multiple Choice

At the beginning of a year, decision makers expect the general level of prices to increase at a 3 percent annual rate. The CPI increases from 150 to 154.5 during the year; this is an example of

• A) an inflation rate that is equal to 4.5 percent.
• B) an unanticipated increase in the general level of prices.
• C) an increase in the general level of prices that was accurately anticipated.
• D) an inflation rate that is less than what people anticipated.

Understand the effects of resource scarcity and ambiguous rules on conflict.

Compare the outcomes of different interpersonal conflict management styles.

Analyze the role of time and deadlines in negotiations.

Understand the conflict process and its implications on organizational behavior.

---

Definitions:

Reference Group

A reference group is a social group that an individual uses as a standard for evaluating their own behavior, values, and attitudes.

Keeping Up

The practice or tendency of maintaining a standard of living or achievements comparable to those of one's peers or neighbors.

Joneses

A colloquial term referring to neighbors or societal peers whose social and economic status influence others to try to keep up or surpass them, often leading to consumerism and competition.

Groupthink

A psychological phenomenon in which the desire for group conformity results in an irrational or dysfunctional decision-making outcome.