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Jim has just arrived late for work. This is the third time over the past five days that he has arrived more than 30 minutes late. However, you conclude that Jim's lateness is due to factors beyond his control because most other employees who also take Jim's route to work have also been late to work on these days. According to attribution theory, what attribution have you made of Jim's lateness and based on what attribution rule?
Potential Growth
The estimated rate at which an economy could grow considering the full utilization of its resources without causing inflationary pressures.
Rational Expectations Theory
The hypothesis that individuals make predictions about future economic activities based on past and current information and act rationally on those expectations.
Anticipation
The act of expecting or foreseeing something, often involving preparatory action or adjustments based on predictions about future events or trends.
Inflation
The speed at which the overall price level of goods and services increases, diminishing buying power.
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