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How are demand-pull and cost-push inflation reflected in terms of the AD-AS model?
First Instinct Fallacy
The false belief that it is better not to change one’s first answer on a test even if one starts to think that a different answer is correct.
Upward Counterfactual Thinking
The process of imagining better alternatives to past events, which can have various emotional or motivational effects.
Downward Counterfactual Thinking
Generating thoughts of how situations could have been worse, which can sometimes improve emotional state.
Statistical Regression
The statistical tendency for extreme scores or extreme behavior to be followed by others that are less extreme and closer to average.
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