When Economists Talk About a "New Normal" in Terms of Conditions

question 57

Multiple Choice

When economists talk about a "new normal" in terms of conditions in the production and employment sectors, they are suggesting a change in people's perceptions influenced by the

• A)hindsight bias.
• B)confirmation bias.
• C)availability heuristic.
• D)framing effect.

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Definitions:

Planning

The process of setting objectives, determining strategies to achieve them, and organizing activities to accomplish these objectives.

Health Action Process Approach

A psychological theory that models how people come to the decision to take action on their health and how they implement and maintain those actions.

Motivational Phase

In the health action process approach, the stage in which a person develops an intention to pursue a health-related goal.

Volitional Phase

The stage of decision-making or behavior that involves conscious choice and willful effort.