Robert is interviewing a candidate for employment in his company and believes that the applicant is highly intelligent. If Robert only pays attention to information that is consistent with his belief, a(n) ________ will occur
A) confirmation bias
B) attentional bias
C) attenuation bias
D) distinction bias
A
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If more people buy hybrid cars that have high gas mileage, the equilibrium price of gasoline will ________ and the equilibrium quantity will ________
A) rise; increase B) rise; decrease C) fall; increase D) fall; decrease
Under a fixed exchange rate system, an increase in Japanese demand for U.S. agricultural goods would
a. cause the U.S. balance of trade to worsen b. increase the supply of yen relative to the dollar c. decrease Japanese demand for dollars d. cause the yen to appreciate e. cause an immediate revaluation of the yen
The best economic theory is the one
a. whose assumptions most closely match reality b. that yields the most accurate predictions c. that most simply represents reality d. that most closely matches the conscious behavior of economic decision makers e. that includes the most details
Rent-seeking activities have been a major problem in the high-growth Asian economies and contributed greatly to the Asian financial crisis
Indicate whether the statement is true or false