There are a lot of names for it. The most common is senior slump and senioritis.
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The intuition behind the real wealth effect is that when the price level decreases, it takes less money to buy goods and services. The money you have is now worth more and you feel wealthier. So, in response to a decrease in the price level, real GDP will increase.
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Answer:
I'd say both! Because wether or not the decisions good or not, both of'em are going to have hard impacts. For example: When someone makes a good decision, like helping someone who needs to get their life on a right path or dealing with some hard or addictive habits can leave such tremendous impacts. Even when the decision to making the wrong choices become a harsh impact as well!
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