Define Groupthink, Describe How It Occurs and Name and Describe

question 10

Essay

Define groupthink, describe how it occurs and name and describe four ways to prevent groupthink.

---

Definitions:

Aggregate Supply

The nation’s total output of goods and services.

Depression

A severe and prolonged downturn in economic activity, characterized by significant decline in GDP, high unemployment, and deflation.

Supply-Side Economists

Economists who believe that reducing tax rates and regulatory burdens on producers can stimulate investment, increase supply, and lead to economic growth.

Tax Rates

Tax rates are the percentages at which individual or corporate income is taxed by the government.