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Discuss the issues involved in measuring a country's economy.
Louis Thurstone
An influential American psychologist known for his contributions to psychometrics, including factor analysis and the development of psychological scales.
Anchoring
A cognitive bias where an individual relies too heavily on an initial piece of information (anchor) when making decisions.
Adjustment Heuristic
A rule of thumb where an initial estimate is adjusted based on additional information or analysis.
Cognitive Bias
A systematic pattern of deviation from norm or rationality in judgment, where inferences about other people and situations may be drawn in an illogical fashion.
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