Examlex
Suppose that changes in aggregate demand tended to be infrequent and that it takes a long time for the economy to return to long-run output. How would this affect the arguments of those who oppose using policy to stabilize output?
Rationally Evaluating
The process of logically assessing something to form a judgment or conclusion.
Evidence
Reasons for believing that a statement or claim is true or probably true.
Confirmation Bias
The human tendency to search for, interpret, favor, and recall information in a way that confirms one's preexisting beliefs or hypotheses.
Memorable Events Error
A cognitive bias that occurs when memorable or significant events are more easily recalled than ordinary events, skewing perception and decision-making.
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