Joseph Was on the Subway When He Noticed a Man

question 181

Multiple Choice

Joseph was on the subway when he noticed a man lying slumped over on the seat. Joseph looked around at the other passengers, who seemed calm and unconcerned. Joseph concluded that the man was probably okay. However, the other passengers may have been looking around at Joseph, to see how he reacted. This would be an example of __________.

• A) social reciprocity
• B) pluralistic ignorance
• C) false uniqueness
• D) conformity

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Definitions:

Normal Good

A good for which demand increases as the income of individuals increases, all other factors being constant.

Utility Function

An economic formula that explains the preference ratings associated with consuming different combinations of goods, reflecting consumer satisfaction.

Commodities

Fundamental products utilized in business transactions that can be exchanged with similar types of items.

Utility Function

A representation of how different combinations of goods or services produce levels of happiness or satisfaction for an individual or entity.