Answer:
The correct answer is:
Confirmation bias
Explanation:
In psychology, the confirmation bias concept is used in order to describe the group of beliefs that people may have without a solid scientific base as reliable fact about a certain topic. It is normally a trend that leads people to believe and confirm certain pre-established theories leading them to increase or reassert their misconceptions.
Answer and Explanation:
Phelps criticized Friedman's position, because he said it was totally irrelevant to analyze the tax functions of inflation without assessing product demand, as Friedman suggested in his theory. He stated that this would only be possible if there was a way to predict an optimal rate of inflation in different situations of demand and supply, otherwise, in Phelps' words it would be the same as "Professor Friedman gave us Hamlet without a prince".
Phelps' positioning would be better considered by the RBC model, since this model is based on real and not imaginary facts.
The Local government branch provides the most services to citizens. <span />
<span>The Royal Proclamation had been originally issued by
King George III in 1763 to officially claim British territory in North
America after Britain had won the Seven Years War.</span>
