Related to the Economics in Practice on P

question 53

Multiple Choice

Related to the Economics in Practice on p. 107: The value of the used goods sold on eBay from a U.S. seller to a U.S. buyer is

• A) counted in U.S. GDP but not GNP.
• B) counted in U.S. GNP but not GDP.
• C) counted in both U.S. GDP and GNP.
• D) not counted in either U.S. GDP or GNP.

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Definitions:

Individuate

The process of developing a distinct, integrated personality or self, often associated with adolescent development and psychological differentiation from others.

System Justification

A theory suggesting that people have a psychological need to defend and justify the status quo even at the expense of personal or group interest.

Social Identity

The part of an individual's self-concept that derives from their membership in a social group, including the values and emotional significance attached to that membership.

Social Comparison

A psychological process where individuals evaluate their own opinions and abilities by comparing themselves to others.