The Use of Money as a Medium of Exchange Helps

question 202

Multiple Choice

The use of money as a medium of exchange helps reduce the inefficiencies inherent in:

• A) unstable commodity values.
• B) an inflationary period.
• C) a time of political uncertainty.
• D) barter.

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Definitions:

Groupthink

A phenomenon whereby a group makes faulty decisions because of group pressures, leading to a degradation of mental efficiency, reality testing, and moral judgment.

Social Facilitation

The tendency for people to perform differently when in the presence of others than when alone, often improving on simple or well-rehearsed tasks.

Self-Disclosure

Revealing intimate aspects of oneself to others.

Asch Procedure

A research method used in social psychology to study conformity to group pressure by analyzing how individuals yield to or defy a majority group's opinion.