Milgram Surveyed Both a Panel of Yale Undergraduates and a Panel

question 124

Multiple Choice

Milgram surveyed both a panel of Yale undergraduates and a panel of psychology professors before he conducted his original experiment.In these surveys, he found that

• A) most people predicted that less than 1 percent of participants would go to 450 volts.
• B) most people predicted that less than 10 percent of the participants would go to 450 volts.
• C) most people predicted that a majority of participants would go to 450 volts.
• D) students underestimated the percentage who would go all the way to 450 volts, while professors' estimates were fairly accurate.

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Definitions:

Marginal Analysis

The examination of the benefits and costs of choosing one more or one less unit of a good or service.

Implicit Costs

The opportunity costs of using resources owned by the firm for its own production instead of selling or renting them to others.

Interest Rate

The price, calculated as a percentage of the amount borrowed, that a lender charges a borrower for the use of their savings for one year.

Salary

A fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, made by an employer to an employee.