Suppose That You Draw a Sketch of Your College Campus

question 34

Multiple Choice

Suppose that you draw a sketch of your college campus.In reality,one particular road on campus is vaguely U-shaped,but the right-hand portion of the curve is steeper than the left-hand portion.According to your drawing,however,the two portions have the same degree of curvature.This example illustrates

• A)the 90° angle heuristic.
• B)the alignment heuristic.
• C)the rotation heuristic.
• D)the symmetry heuristic.

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Definitions:

Phillips Curve

A concept in economics that indicates an inverse relationship between the rate of unemployment and the rate of inflation within an economy.

Inflation Rate

The rise in the average cost of goods and services throughout an economy over a specified period.

Money Supply Growth

The rate at which the total amount of monetary assets in an economy increases over time, which can influence inflation, interest rates, and economic growth.

Unemployment Rate

The proportion of the labor force that is not currently employed but is actively looking for work and willing to work.