An Individual Who Recently Had Preventive Bypass Surgery Might Think

question 11

Multiple Choice

An individual who recently had preventive bypass surgery might think, "At least I didn't have a serious heart attack like my older brother did." This thinking exemplifies the strategy known as

• A) self-serving bias.
• B) pessimistic explanatory style.
• C) downward social comparison.
• D) basking in reflected glory.

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Definitions:

Active Fiscal Policy

Government policy that involves altering government spending and taxation to influence the economy.

Short-run Phillips Curve

An economic model depicting an inverse relationship between the rate of unemployment and the rate of inflation in the short-term.

Potential Output

The optimum level of real gross domestic product achievable over a prolonged period without triggering higher inflation.

Expected Inflation Rate

The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling, as anticipated by consumers and businesses.