Polarization Is a Relatively Fixed Mental Picture of Some Group

question 23

True/False

Polarization is a relatively fixed mental picture of some group that is applied to each individual of the group without regard for his or her unique qualities.

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Definitions:

Taxes

Compulsory financial charges or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

Unemployment

A situation where individuals who are capable of working and are seeking work are unable to find employment.

Natural Rate of Unemployment

The level of unemployment that exists when the labor market is in equilibrium, including frictional and structural unemployment but not cyclical unemployment.

Long-run Phillips Curve

A graphical representation indicating that in the long-term, there is no trade-off between inflation and unemployment, implying that the curve is vertical.