Briefly Explain the Core Competency Theory

question 8

Essay

Briefly explain the core competency theory.

Describe the effects of monetary policy tools on the economy.

Explain the concept of a liquidity trap and its consequences.

Understand the factors influencing the effectiveness of monetary policy.

Understand the distinction between and the relevance of basic and applied research in social psychology.

---

Definitions:

External Factors

Elements outside an organization or individual's control that can impact their performance or decision-making process.

Self-Serving Bias

A common tendency to attribute one's successes to personal qualities and failures to external factors.

Attribution

The act of explaining the causes of behaviors or events, often associating them with personal traits or external situations.

Self-Monitors

Individuals who observe and regulate their behavior in social situations to fit the norms or expectations.