Economists Believe That Expectations Have Little Impact on Macroeconomic Outcomes

question 164

True/False

Economists believe that expectations have little impact on macroeconomic outcomes.

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Definitions:

Need For Achievement

A psychological driving force that compels individuals to pursue and meet standards of excellence.

n Ach

Refers to "Need for Achievement," a term in psychology that represents an individual's desire for significant accomplishment, mastering of skills, control, or high standards.

Yerkes-Dodson Law

A theory suggesting there is an optimal level of arousal for the best performance on any task: too little or too much arousal can decrease performance.

Arousal Level

refers to the state of being physiologically alert, awake, and attentive, involving mechanisms within the nervous system.