-In the above figure,what factor might have lead to the shift in the short-run Phillips curve from SRPC₁ to SRPC₂?
Definitions:
Object Permanence
The realization that objects persist in existence even when they are out of sight, sound, or any sensory perception.
Curse Of Knowledge
A cognitive bias where better-informed individuals find it difficult to see things from the perspective of less-informed individuals.
Basic Trust
According to Erik Erikson, a sense that the world is predictable and trustworthy; said to be formed during infancy by appropriate experiences with responsive caregivers.
Object Permanence
The understanding that objects continue to exist even when they cannot be seen, heard, or otherwise sensed, typically developed in early infancy.
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