The human tendency to believe only those data that agree with one's preconceptions and ignore other data that contradict the preconceptions is called:
A. Confirmation bias
B. Self-serving bias
C. Overconfidence effect
D. Availability heuristic
A. Confirmation bias
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Increased number of divorce couples and the rise of two income families causes the measured distribution of income to appear more equal
a. True b. False Indicate whether the statement is true or false
Toyota (a Japanese-based company) produces Tundras in the state of Texas. In which country’s GDP is it included?
A. Japan and the United States B. Japan because Toyota is a Japanese company C. The United States because that is where it was produced D. Neither country because it is sold internationally
Why is the demand curve horizontal for a perfectly competitive firm?
What will be an ideal response?
What are some complications and modifications of the simple model of immigration and its conclusions about wage rates, domestic output, and business incomes in a poorer nation and a richer nation?
What will be an ideal response?