One important consequence of the confirmation bias is that:
A. Some people cannot correct a personal trait that might be causing them to fail in many ventures
B. Someone could persist in pursuing a failed policy despite overwhelming evidence of the failure
C. Bad decisions can be made because people will act without pausing to see whether their intuition is correct or not
D. Some people may wrongly believe in their forecasting ability to predict future outcomes of risky investments
B. Someone could persist in pursuing a failed policy despite overwhelming evidence of the failure
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Define tax expenditures. What are the costs and benefits to using tax expenditures for social policy rather than direct government expenditures?
What will be an ideal response?
The Widget Company has estimated the following revenue possibilities for the year:
Sales Probability 100 0.15 150 0.20 220 0.30 290 0.20 310 0.15 a. Find expected revenue. b. Find the standard deviation. c. Find the coefficient of variation.
Excess reserves can be found by subtracting required reserves from total reserves
a. True b. False
Suppose that no externalities are generated by the production of chickens. If the price of chickens is equal to private marginal cost of producing chickens, then
a. that price is lower than the price associated with an efficient allocation of resources b. that price is higher than the price associated with an efficient allocation of resources c. that price is precisely the price associated with an efficient allocation of resources d. less than an efficient quantity is being produced e. more than an efficient quantity is being produced