Phillips Found a

question 80

Multiple Choice

Phillips found a

• A)positive relation between unemployment and inflation in the United Kingdom.
• B)positive relation between unemployment and inflation in the United States.
• C)negative relation between unemployment and inflation in the United States.
• D)negative relation between unemployment and inflation in the United Kingdom.

---

Definitions:

Base-Rate Information

Refers to the statistical frequency of various phenomena or characteristics within a given population, used to inform judgment and decision-making processes.

Base-Rate Information

Statistical information that represents the prevalence or general occurrence of a particular trait, behavior, or event within a larger population.

Availability Heuristic

An instinctive mental tactic that uses the nearest instances that surface in thought while considering a certain topic, theory, strategy, or judgment.

Base-Rate Information

Base-rate information refers to the statistical likelihood of an event or characteristic within a given population, used in decision-making processes.