Examlex
The "Big Mac Theory of Exchange Rates" tests the accuracy of purchasing power parity theory.In July 2011,The Economist reported that the average price of a Big Mac in the United States was $4.07.In Japan,the average price of a Big Mac at that time was 320 yen.What is the "implied exchange rate" between the yen and the dollar?
Gut Reactor
An individual who often relies on intuitive, emotional responses rather than analytical thinking when making decisions.
Deliberate System
A cognitive processing system that is slow, analytical, and consciously controlled, often involved in reasoned decision-making.
Social Brain Theory
The hypothesis that the complex social structures of humans have significantly influenced the evolution of the human brain and cognition.
Psychological Traits
Characteristics of the psyche that are considered to be inherent, stable, and defining features of individuals across situations and over time.
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