Examlex
Absolute PPP doesn't do a very good job explaining exchange rates in the short run. Give and fully explain two of the three reasons for this failure.
Social Norms
Accepted behaviors that are considered typical within a group or society, guiding interactions and expectations.
Cognitive Dissonance Theory
A theory suggesting that people experience discomfort (dissonance) when their beliefs or behaviors are inconsistent with one another, often leading to changes to reduce the dissonance.
Philip Zimbardo
Philip Zimbardo is a psychologist well-known for his 1971 Stanford prison experiment which highlighted the impact of situational forces on human behavior.
Reliability
The consistency and dependability of a measurement tool or test over time, ensuring that the same results can be repeated under similar conditions.
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