The Drawback of Using the Intuition Model of Decision Making

question 94

True/False

The drawback of using the intuition model of decision making is that it can be difficult to convince others that your decision makes sense.

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Definitions:

Government

The organized system or group of people governing an organized community, often a state, managing its public policy and affairs.

Lags

Delays in the effect of economic policies or other changes in the economy, which can affect the timing and efficiency of economic outcomes.

Discretionary Fiscal Policy

Fiscal measures, such as government spending and taxation, actively applied by a government to influence the economy, especially to counteract recession or control inflation.

Inflation

The rate at which the widespread price level of goods and services rises, impairing the purchasing power.