Answer:
the adaptation-level phenomenon
Explanation:
People have a tendency to judge stimuli relative to prior experience. For example, if a man's current income increases, he feels an initial surge of pleasure. However, as he adapts to that income level, he comes to consider it normal. He then requires something better to feel another surge of happiness. This is known as: the adaptation-level phenomenon
Adaptation-Level Phenomenon is how people adapt quickly to a new situation, until that situation becomes the new normal
.After getting a better income after a while it becomes normal and you are looking for something new and better man generally is insatiable. Our desires only grow bigger once we have adapted and conquered a particular level
The fundamental attribution error refers to people's tendency to overestimate internal influences and underestimate the external influences when explaining other's behavior. Your attribution focuses more on the personal disposition rather than the situation. For example, you have a friend who experienced a car accident. You blame your friend because of being absent-minded, instead of other factors that has caused the accident.
Answer:
The correct answer is option A.
Explanation:
Nominal GDP is the measure of economic growth which calculates the change in output on the basis of the current price. It is not inflation-adjusted measure and is affected by changes in the price level.
Real GDP on the other hand, measures the change in economic output on the basis of constant price. It is an inflation-adjusted measure to calculate economic growth.
That is why, real GDP is preferred, because nominal GDP may overestimate or underestimate the change in output.
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