Psychology and the Economy

    Cards (15)

    • What does psychological research involve?
      Real people investigating real behaviors
    • What is a potential outcome of psychological research in society?
      It can lead to social change
    • What are some applications of psychological research?
      Modification of existing ideas and practices
    • How does psychological research impact government spending?
      It influences spending on health, education, and law
    • How does teacher stress impact school finances?
      More money spent on supply agencies
    • How does fear of crime affect government spending?
      Increased spending on recruiting police officers
    • Why might doctors prefer drug therapy for depression?
      It is cheaper than cognitive behavioral therapy
    • What small-scale economic implications arise from psychological research?
      Vulnerable people risk deteriorating mental health
    • How does maternity leave affect women's employment perceptions?
      Women are seen as less reliable by employers
    • What is a consequence of women being perceived as less reliable?
      They may be overlooked for promotions
    • What does research suggest about workforce happiness?
      A happy workforce is more productive
    • How can employers respond to research on workforce happiness?
      Introduce schemes to boost employee well-being
    • What are the economic implications of Schayer & Emerson's research?
      • Parents can share childcare responsibilities
      • Savings on nursery fees
      • Mothers can return to work confidently
      • Both parents contribute financially
    • What are the economic implications of Loftus & Palmer's research?
      • Improved questioning reduces wrongful convictions
      • Fewer miscarriages of justice save costs
      • Reduces expenses related to trials and appeals
    • How should students approach exam questions on psychological research and the economy?
      • Think practically about benefits and costs
      • Link studies to business, health, and education
      • Consider macro and micro economic impacts