Economist Edward Prescott Is Associated with the

question 115

Multiple Choice

Economist Edward Prescott is associated with the

• A)early spread of the old Keynesian approach.
• B)creation of the "fooling" model.
• C)creation of the first "New Classical" approach.
• D)creation of the "real business cycle" model.

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Definitions:

Implicit Attitude Theory

A concept that suggests attitudes or feelings that individuals may be unaware of or unable to articulate, significantly influence their responses and behaviors.

Self-knowledge

One's understanding and awareness of their own personality, feelings, motives, and desires.

Introspection Theory

A psychological theory which suggests that the examination of one's own conscious thoughts and feelings can provide insight into one's behaviors and mental states.

Self-fulfilling Prophecy

A self-fulfilling prophecy is a prediction that directly or indirectly causes itself to become true, due to positive feedback between belief and behavior.