What role do social networking Web sites play in creating confirmation bias among users?
What will be an ideal response?
Social networking Web sites have made it easier for users to read about the opinions of like-minded individuals, which reaffirm their own misconceptions. This phenomenon is known as confirmation bias.
You might also like to view...
A free rider in economic theory is someone who does not contribute toward covering the cost of goods which he desires because he
A) has a comparative advantage in defraying the cost of other goods. B) knows his paying or not paying will make no difference in their availability to him. C) regards all such costs as deadweight costs. D) regards all such costs as transaction costs.
Holding large amounts of bank capital helps prevent bank failures because
A) it means that the bank has a higher income. B) it makes loans easier to sell. C) it can be used to absorb the losses resulting from bad loans. D) it makes it easier to call in loans.
If the government institutes a specific tax for a good
A) the producer simply passes the entire tax on to the consumer. B) the producer must absorb the entire tax. C) the producer can generally only pass part of the tax onto the consumer. D) the equilibrium price drops.
In the short run, tax cuts that are intended to increase aggregate supply have
a. almost no effect on aggregate demand, and a small effect on aggregate supply. b. about an equal effect on both aggregate demand and aggregate supply. c. a much greater effect on aggregate demand than on aggregate supply. d. almost no effect on aggregate supply, and a negative effect on aggregate demand.