An Unanticipated Economic Event Is a Change That

question 184

Multiple Choice

An unanticipated economic event is a change that

• A)catches most people by surprise.
• B)was foreseen by most economic participants.
• C)is the result of a steady long-term trend in an economic variable.
• D)was forecast by most economists.

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Definitions:

Negative Emotions

Emotions that are generally perceived as undesirable, such as sadness, anger, and fear, and are often a response to undesirable experiences or thoughts.

Adaptation-level Phenomenon

The psychological experience of judging new stimuli and events based on past experiences or a baseline level of past stimuli.

Day-to-day Happiness

The experience of joy, contentment, or positive well-being, combined with a sense that one's life is good, meaningful, and worthwhile on a daily basis.

Money Buy Happiness

The debate concerning whether material wealth can significantly increase an individual's level of happiness or well-being.