Niaz's car breaks down, and he is convinced that it was a predictable event even though there was no way of knowing it would happen. this exemplifies anchoring bias availability heuristic hindsight bias representational bias

This exemplifies "hindsight bias ".

Hindsight bias, otherwise called the knew-it-all-along effect or creeping determinism, is the tendency, after an occasion has happened, to see the occasion as having been unsurprising, in spite of there having been practically zero target reason for foreseeing it.

Once an occasion happens, it's simple for us to trust that we knew the result ahead of time. This phenomenon is formally called as hindsight bias.

levels of production can be increased by technology while holding labor and capital constant, because increased technology makes the production process more efficient. subsequently, the lras curve is almost a vertical line, that can shift to the right, with an increase in technology.

the relationship between the lras curve and the ppc is that both can make the economy could grow. the ppc achieves that when it shifts outward because of more resources or technological advances while the lras curve shifts if more resources are developed or if there are technological advances.

the lras curve is a vertical line at an output level that represents the number of goods and services a nation can produce over a sustained period using all of its productive resources as efficiently as possible with all of the current technology available to it.

the production possibilities frontier (ppf) is a graphical device that is used for economic analysis of production decisions because the ppf measures the maximum possible combinations of two goods that an economy is capable of producing with its currently available resources and technology.