When economists talk about a new normal in terms of conditions in the production and employment sectors, they are suggesting a change in people's perceptions influenced by theA) hindsight bias.B) confirmation bias.C) availability heuristic.D) framing effect.

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Faith McDowell · Accepted Answer

Final Answer : D, Explanation :  The new normal concept in economics often involves a change in how situations or data are presented or perceived, which aligns with the framing effect. The framing effect describes how people react differently to a particular choice or scenario depending on how it is presented to them. In the context of a new normal, the way economic conditions are framed can significantly influence people's perceptions and behaviors in the production and employment sectors.

When economists talk about a "new normal" in terms of conditions in the production and employment sectors, they are suggesting a change in people's perceptions influenced by the

A) hindsight bias.
B) confirmation bias.
C) availability heuristic.
D) framing effect.

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Related questions

When economists talk about a "new normal" in terms of conditions in the production and employment sectors, they are suggesting a change in people's perceptions influenced by theA) hindsight bias.B) confirmation bias.C) availability heuristic.D) framing effect.

Definitions

Learning Objectives

Learning Objectives

Related questions

When economists talk about a "new normal" in terms of conditions in the production and employment sectors, they are suggesting a change in people's perceptions influenced by the

A) hindsight bias.
B) confirmation bias.
C) availability heuristic.
D) framing effect.