The Stock Market Crash of 1929 Turned into a Systemic

question 13

True/False

The stock market crash of 1929 turned into a systemic crisis.

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Definitions:

Analogy Heuristic

A rule of thumb that applies a solution that solved a problem in the past to a current problem that shares many features with the past problem.

Algorithm

A systematic, step-by-step procedure, such as a mathematical formula, that guarantees a solution to a problem of a certain type if applied appropriately and executed properly.

Working Backwards

is a problem-solving strategy that involves starting with the goal and sequentially planning the steps in reverse to reach the starting point.

Heuristics

Mental shortcuts or rules of thumb that simplify decision making, but can sometimes lead to cognitive biases.