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Exhibit 33-7
-Refer to Exhibit 33-7. Assume that the current price of good X is $25 (which includes a $10 tariff on imports of good X) . Americans purchase ______ units of good X from U.S. producers and import _______ units of good X from abroad.
Perceptions
A rephrased definition: The way individuals perceive and interpret their surroundings through their sensory experiences, which can vary widely from person to person.
Common Filters
Cognitive biases or perspectives that influence how individuals perceive and interpret information.
Personality
The combination of characteristics or qualities that form an individual's distinctive character.
Attitudes
A predisposition to respond in a favorable or unfavorable manner to a particular idea, object, person, or situation.
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