Answer:
Confirmation bias
Explanation:
Confirmation Bias is the bias that is influenced by the desire for the belief. When the person believes that the idea and concept are true, the person ends that belief with the confirmation. The people are motivated by wishful. This type of error leads to stop to gather the information. This does not perceive circumstances as objective. Confirmation bias also is found in anxious people that see the world as dangerous. For example, a low esteem person more sensitive when ignored by others.
<u>The correct order for the steps that show how contractionary fiscal policies work would be the following</u>:
-Government increases tax rate
-Inflationary pressure decreases
-Consumers have less money to spend
-Producers manufacture fewer goods
Contractionary monetary policy is often applied <u>when the economy is suffering from inflationary pressure</u>. The central bank (U.S. Federal Reserve) will <u>slow down the monetary supply</u>. In turn, this raises the cost of borrowed money, which <u>decreases Gross Domestic Product and inflation</u>. Some negative side effects could be a higher unemployment rate.
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