The Presence of Others Can Lead Us to Go Along

question 18

Multiple Choice

The presence of others can lead us to go along with the group norm, even though we might disagree with it. This statement is supported by the studies of ______.

• A) Asch
• B) Sheriff
• C) Turner
• D) all of these

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Definitions:

Aggregate Demand

The total demand for all goods and services within an economy at various price levels, in a given time period.

Automatic Stabilizer

Economic policies and programs, such as unemployment benefits and taxation, that automatically adjust to counteract economic fluctuations without direct intervention by policymakers.

Crowding-out

A situation where increased public sector spending leads to a reduction in private sector spending.

Accelerator Effect

Refers to the phenomenon where an increase in national income results in a proportionally larger increase in investment spending due to expected higher demand for products.