The Development Most Responsible for the Wide-Spread Introduction of Macroeconomic

question 38

Multiple Choice

The development most responsible for the wide-spread introduction of macroeconomic models built upon solid microeconomic foundations was the

• A)development of the Keynesian coordination failure model.
• B)the work of Milton Friedman.
• C)rational expectations revolution.
• D)popularization of the Solow growth model.
• E)work of John Maynard Keynes.

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Definitions:

Situational Attribution

The process of attributing behavior to external factors or circumstances rather than to internal personality traits.

Foot-In-The-Door Phenomenon

A compliance tactic that involves getting a person to agree to a large request by first setting them up by having that person agree to a modest request.

Attitude

A mental inclination demonstrated through assessing a specific entity with a certain level of preference or aversion.

Fundamental Attribution Error

The habit of focusing too much on someone's personal attributes and overlooking the circumstances when assessing their behavior.