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What are economic factors that increase aggregate demand? What are the factors that would decrease aggregate demand?
Higher Status
Describes a position of greater power, respect, or social standing compared to others.
Fundamental Attribution Error
The tendency for people to over-emphasize personality-based explanations for behaviors observed in others while underestimating the influence of external factors.
Schematic Processing
A cognitive process that uses social schemata to organize and interpret information about the social world.
Schemas
Cognitive frameworks or concepts that help individuals organize and interpret information, based on past experiences and knowledge.
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