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After failing the Bar Exam following law school,Alice became depressed and required counseling.She took the test again and passed.Afterward,she encouraged all her classmates who failed their first attempts to get counseling.Explain which of the five perceptual errors may be operating here,and why.
Business Cycle Peaks
The points in time at which an economy transitions from an expansion to a recession, marking the highest point of economic activity before downturn.
Last Recession
Refers to the most recent period of significant decline in economic activity across the economy, lasting more than a few months.
Winter
The coldest season of the year, occurring between autumn and spring.
Disinflation
A slowdown in the rate of inflation, marked by a gradual decrease in the general price level of goods and services over time.
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