For Nearly Every Year Since 1992 Our Rate of Inflation

question 321

Multiple Choice

For nearly every year since 1992 our rate of inflation was below

• A)5 percent.
• B)4 percent.
• C)3 percent.
• D)2 percent.
• E)1 percent.

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Definitions:

Effort Justification

A phenomenon whereby individuals rationalize the effort and resources they put into achieving a goal by increasing their appreciation or valuation of the goal, especially when the effort was substantial.

Belief Perseverance

The psychological phenomenon where individuals cling to their initial views or explanations despite the confrontation with new, contradictory information.

Social Psychology

The examination of individuals' thoughts, emotions, and actions within societal settings through scientific methods.

Belief Perseverance

The tendency for people to hold on to their beliefs even in the face of contradictory evidence.