A Market Basket

question 3

Multiple Choice

A market basket:

• A) is a tool devised to track how changing prices affect consumers.
• B) includes all the goods and services produced in an economy.
• C) includes all the goods and services consumed in an economy, including imports.
• D) includes all the goods and services consumed in an economy, including net exports.

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Definitions:

Just-World Phenomenon

The cognitive bias to believe that the world is just and people get what they deserve, leading to a tendency to blame victims for their misfortune.

Other-Race Effect

A phenomenon in which individuals are better at recognizing faces of their own race than those of other races.

Scapegoat Theory

A psychological concept suggesting that individuals or groups blame their problems and failures on others instead of accepting responsibility.

Outgroup

A social group to which an individual does not identify or belong, often viewed less favorably than the ingroup.