According to Kuznets,in the Process of Development Inequality in an Economy

question 14

Multiple Choice

According to Kuznets,in the process of development inequality in an economy will normally

• A)first rise and then fall.
• B)first fall and then rise.
• C)remain about the same.
• D)show no definite pattern.

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Definitions:

Representativeness

The cognitive bias in decision-making where the likelihood of an event is evaluated based on how much it resembles a typical case.

Mental Prototype

A mental image or best example that embodies the most typical characteristics of a particular category or concept.

Satisficing Decisions

Solutions that aim for acceptable results rather than for the best or optimal ones.

Tactical Decisions

Short-term choices made to achieve specific objectives that are part of a larger strategic plan.