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Table 9-2
-Refer to Table 9-2. In Year 1, the supply of money measured by M1 was
Preconceptions
Pre-existing ideas or biases formed before having evidence or detailed knowledge, often influencing perception and decision-making.
Intuition
Intuition involves understanding or knowing something instinctively, without the need for conscious reasoning.
Algorithms
A set of rules or procedures to be followed in calculations or problem-solving operations, often used by computers.
Overconfidence
A cognitive bias that causes someone to overestimate their abilities, performance, the level of control they have, or their level of knowledge.
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