In Contrast to Our Explicit Conscious Reasoning,our Seemingly Effortless and Automatic

question 109

Multiple Choice

In contrast to our explicit conscious reasoning,our seemingly effortless and automatic feelings or thoughts are called

• A) mental sets.
• B) aptitudes.
• C) algorithms.
• D) intuitions.

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Definitions:

Aggregate Demand

The total demand for all goods and services in an economy at a given time and price level.

Classical Economists

were early economic thinkers of the 18th and 19th centuries who believed in the power of free markets to regulate themselves through the laws of supply and demand.

Great Depression

A severe worldwide economic downturn that took place during the 1930s, marked by widespread unemployment, deflation, and a significant decline in economic activity.

Full Employment

An economic scenario where every available workforce is employed in the most financially efficient method.