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If the nominal wage is $30 in 2011 and the CPI is 202 in 2011, then the real wage in 1982-1984
Dollars
Mental Maps
Internal representations of the spatial relationships between objects in an individual's environment, influencing navigation and perception.
Barbara Tversky
A cognitive psychologist known for her work in spatial cognition and cognitive maps.
Systematically Distorted
Refers to information or communication that has been altered in a consistent and predictable manner, often leading to misconceptions or biases.
Heuristics
Simple, efficient rules, often hard-coded by evolutionary processes, that help in making decisions, forming judgments, or solving problems.
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