0

The Psychology of Economic Security

Description: This quiz evaluates your understanding of the psychological aspects of economic security.
Number of Questions: 15
Created by:
Tags: economic psychology economic security behavioral economics
Attempted 0/15 Correct 0 Score 0

What is the primary psychological mechanism through which economic insecurity affects individuals?

  1. Heightened risk perception

  2. Increased impulsivity

  3. Diminished self-control

  4. Elevated anxiety levels


Correct Option: D
Explanation:

Economic insecurity often leads to heightened anxiety, which can have various negative consequences for individuals' well-being and decision-making.

According to research, how does economic insecurity influence individuals' time preferences?

  1. It increases their preference for immediate rewards.

  2. It decreases their preference for immediate rewards.

  3. It has no significant impact on their time preferences.

  4. It varies depending on the individual's socioeconomic status.


Correct Option: A
Explanation:

Economic insecurity often leads individuals to prioritize immediate rewards over long-term benefits, a phenomenon known as 'present bias'.

Which of the following is NOT a common coping mechanism employed by individuals facing economic insecurity?

  1. Seeking social support

  2. Engaging in risky behaviors

  3. Adopting a positive mindset

  4. Investing in education and skills development


Correct Option: B
Explanation:

While economic insecurity may lead to various coping mechanisms, engaging in risky behaviors is generally not a constructive strategy for addressing the underlying issues.

How does economic insecurity affect individuals' cognitive abilities?

  1. It enhances their cognitive flexibility.

  2. It impairs their decision-making skills.

  3. It boosts their creativity.

  4. It has no significant impact on their cognitive abilities.


Correct Option: B
Explanation:

Economic insecurity can lead to cognitive impairments, including difficulties in decision-making, problem-solving, and attention.

Which of the following is NOT a potential consequence of economic insecurity on individuals' health?

  1. Increased risk of chronic diseases

  2. Elevated stress levels

  3. Improved sleep quality

  4. Weakened immune system


Correct Option: C
Explanation:

Economic insecurity is generally associated with negative health outcomes, including increased stress, poor sleep quality, and heightened vulnerability to chronic diseases.

How does economic insecurity influence individuals' social relationships?

  1. It strengthens their social bonds.

  2. It leads to social isolation.

  3. It has no significant impact on their social relationships.

  4. It varies depending on the individual's cultural background.


Correct Option: B
Explanation:

Economic insecurity can lead to social isolation and decreased social support, as individuals may experience feelings of shame, embarrassment, and withdrawal from social interactions.

Which of the following is NOT a potential policy intervention to address the psychological consequences of economic insecurity?

  1. Providing financial assistance

  2. Investing in mental health services

  3. Promoting job training and education programs

  4. Encouraging social support networks


Correct Option: D
Explanation:

While providing financial assistance, investing in mental health services, and promoting job training and education programs are all important interventions, encouraging social support networks is not a policy intervention.

How does economic insecurity affect individuals' sense of control over their lives?

  1. It increases their perceived control.

  2. It decreases their perceived control.

  3. It has no significant impact on their perceived control.

  4. It varies depending on the individual's personality traits.


Correct Option: B
Explanation:

Economic insecurity often leads to feelings of powerlessness and a diminished sense of control over one's life circumstances.

Which of the following is NOT a potential long-term consequence of economic insecurity on children?

  1. Increased risk of mental health problems

  2. Lower educational attainment

  3. Improved social skills

  4. Heightened vulnerability to poverty in adulthood


Correct Option: C
Explanation:

Economic insecurity during childhood is generally associated with negative outcomes, including increased risk of mental health problems, lower educational attainment, and heightened vulnerability to poverty in adulthood.

How does economic insecurity influence individuals' risk-taking behavior?

  1. It increases their risk-taking behavior.

  2. It decreases their risk-taking behavior.

  3. It has no significant impact on their risk-taking behavior.

  4. It varies depending on the individual's gender.


Correct Option: A
Explanation:

Economic insecurity can lead individuals to engage in riskier behaviors, such as impulsive spending, unhealthy饮食习惯, and risky financial investments.

Which of the following is NOT a potential intervention to mitigate the psychological consequences of economic insecurity?

  1. Providing financial counseling

  2. Promoting financial literacy

  3. Encouraging mindfulness and stress reduction techniques

  4. Reducing income inequality


Correct Option: D
Explanation:

While providing financial counseling, promoting financial literacy, and encouraging mindfulness and stress reduction techniques are all important interventions, reducing income inequality is not an intervention that can be directly implemented.

How does economic insecurity affect individuals' trust in others?

  1. It increases their trust in others.

  2. It decreases their trust in others.

  3. It has no significant impact on their trust in others.

  4. It varies depending on the individual's cultural background.


Correct Option: B
Explanation:

Economic insecurity can lead to decreased trust in others, as individuals may feel that they cannot rely on others for support or assistance.

Which of the following is NOT a potential consequence of economic insecurity on individuals' work performance?

  1. Decreased job satisfaction

  2. Reduced productivity

  3. Increased absenteeism

  4. Enhanced creativity


Correct Option: D
Explanation:

Economic insecurity is generally associated with negative consequences for work performance, including decreased job satisfaction, reduced productivity, and increased absenteeism.

How does economic insecurity influence individuals' political attitudes and behaviors?

  1. It increases their support for progressive policies.

  2. It decreases their support for progressive policies.

  3. It has no significant impact on their political attitudes and behaviors.

  4. It varies depending on the individual's political ideology.


Correct Option: A
Explanation:

Economic insecurity is often associated with increased support for progressive policies, such as social safety nets and government intervention in the economy.

Which of the following is NOT a potential long-term consequence of economic insecurity on society?

  1. Increased social unrest

  2. Heightened political polarization

  3. Improved social cohesion

  4. Weakened economic growth


Correct Option: C
Explanation:

Economic insecurity is generally associated with negative consequences for society, including increased social unrest, heightened political polarization, and weakened economic growth.

- Hide questions