Examlex
In the simple circular flow diagram,the flow of money from the markets for goods and services to the firms is called
Groupthink
A psychological phenomenon that occurs within a group of people, where the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.
Tightly Knit Groups
Social groups closely bonded by frequent interactions, shared values, and deep feelings of belonging.
Confederates
Individuals who are part of a group engaged in a secret or illicit activity or who are in on the experimental conditions in psychological studies and pretend to be participants.
Conformity
The act of adjusting one's behaviors, beliefs, or attitudes to align with the norms or standards of a group or society.
Q1: A survey of professional economists revealed that
Q2: The language of economics is<br>A)needlessly arcane.<br>B)valuable because
Q5: When you calculate your true costs of
Q7: Refer to Figure 2-6.The opportunity cost of
Q23: The U.S.government pays an economist at the
Q43: A circular-flow diagram is a model that<br>A)helps
Q91: The government has just passed a law
Q185: The country of Gerance produces two goods,cars
Q197: Refer to Figure 2-12.The shift of the
Q256: Refer to Figure 2-2.If the outer loop