Examlex
Outline three types of unscientific thinking, providing examples of each.
Rational Expectations
The hypothesis that individuals form forecasts about the future based on all available information, including historical data and predictions about future policy actions.
Government Policy Makers
Individuals or groups within the government responsible for developing, implementing, and amending policies and regulations.
Aggregate Demand Curve
A graphical representation showing the relationship between the overall price level in the economy and the total demand for goods and services at that level.
Expected Price Level
The anticipated average price of goods and services in an economy at a future date.
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