While Talking with His Grandmother on the Phone, Five-Year Old

question 126

Multiple Choice

While talking with his grandmother on the phone, five-year old Danny suddenly exclaims, "Oh, look at that pretty bird!" When his grandmother asks him to describe the bird, Danny says, "Out there, out there! Right there, Grandma!" He finally gets frustrated and hangs up. This is an example of:

• A) animism.
• B) egocentrism.
• C) intuitive thought.
• D) symbolic function.

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Definitions:

Government Interference

Involvement by government in market operations, which can range from regulations and taxes to direct control and ownership of services.

Full Employment GDP

The output level of goods and services in an economy when all available labor resources are being used in the most economically efficient way.

Equilibrium GDP

The gross domestic product level where aggregate supply equals aggregate demand, indicating a stable economy.

Inflationary Gap

A situation where aggregate demand in an economy exceeds aggregate supply, leading to inflation and a higher levels of spending than what is supported by production.