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Jim gets a paper back in his English class and although he thought he did pretty well, he receives an almost failing grade on it. Jim begins to criticize himself (e.g., "I'm such an idiot!") and because his tendency to do so is so habitual and well-learned, he isn't really aware of what he is doing internally. Nonetheless, within a relatively short period of time, Jim is feeling depressed and down. This example best demonstrates how emotional responses are caused by ____________.
Reagan Administration
The executive branch under President Ronald Reagan, which governed the United States from 1981 to 1989, noted for economic policies favoring tax cuts and deregulation.
Personal Income Tax
A tax that governments impose on individuals directly based on their income, including wages, salaries, and investment earnings.
Aggregate Supply
represents the total supply of goods and services that firms in an economy are willing and able to produce at a given overall price level and in a given time period.
Economic Growth
The increase in the inflation-adjusted market value of the goods and services produced by an economy over time.
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