You Decide to Lend $100 to a Friend Interest Free

question 21

Multiple Choice

You decide to lend $100 to a friend interest free for one year. You calculate that you could have earned 10% interest. What is the opportunity cost of the loan if it is paid on time?

• A)$10
• B)$100
• C)$110
• D)$0

Evaluate conflict management strategies and their effectiveness in different scenarios, including negotiation, arbitration, and mediation.

Distinguish between different norms (equity, equality, etc.) that influence perceptions of fairness and decision-making in a group context.

Explore the psychological underpinnings of conflict, including attribution errors and balance theory.

Understand the role of conflict resolution strategies, such as tit-for-tat and principled negotiation, in enhancing group function and individual relationships.

---

Definitions:

Selective Perception

The process by which individuals selectively interpret what they see, hear, and feel based on their own experiences, attitudes, and beliefs.

Selective Retention

The process by which individuals remember only information that supports their beliefs or opinions, often ignoring opposing evidence.

Stimulus Discrimination

Stimulus discrimination is a concept in behavioral psychology where an organism learns to respond differently to various stimuli that are similar but not identical.

Selective Identification

The process of deliberately choosing or identifying specific elements or individuals from a broader group based on predefined criteria.