The Below Table Shows the Average Utility (In Utils) Obtained

question 115

Multiple Choice

The below table shows the average utility (in utils) obtained from the consumption of goods A and B.Table 7.3

-Jen spent her weekly allowance of $110 on clothes and cosmetics. Assume that she had allocated $100 to shoes and $10 to lipsticks and is in equilibrium. What can you conclude from her purchase decisions?

• A)She likes shoes ten times as much as she likes lipsticks
• B)Jen liked the last pair of shoes ten times as much as the last tube of lipstick
• C)Jen purchased hundred pairs of shoes for each tube of lipstick
• D)She likes lipsticks ten times as much as she likes shoes
• E)She purchased one pair of shoes for each tube of lipstick

Identify factors that influence balance and unbalance in relationships.

Differentiate between cognitive consistency theories and their applications in social psychology.

Describe experimental evidence supporting cognitive dissonance theory.

Apply cognitive dissonance theory to explain behavior change and attitude adjustment.

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Definitions:

High-Income

Earning a substantial amount of money, typically above the median income level in a given region or country.

Low-Income

Referring to individuals or families whose earnings are significantly lower than the average, often quantified by government standards.

Regressive Tax

A tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases.

Proportional Tax

A tax system where the tax rate remains constant regardless of the amount subject to tax, meaning everyone pays the same percentage of their income.