The _______________ Occurs When an Individual Believes the Probability of Finding

question 79

Multiple Choice

The _______________ occurs when an individual believes the probability of finding a specific member in two overlapping categories is more likely than finding any member of one of the larger, general categories.

• A) anchoring effect
• B) representativeness error
• C) confirmation bias
• D) conjunction fallacy

---

Definitions:

Federal Taxes

Taxes collected by the federal government from individuals and corporations to fund public goods and services.

Federal Debt

The total amount of money owed by the federal government, accrued from past borrowing.

Budget Enforcement Act

Legislation intended to enforce strict budgetary controls on federal spending, aiming to reduce the fiscal deficit.

Budget Deficit

A budget deficit occurs when a government's expenditures exceed its revenues over a specified period, leading to borrowing or the use of saved reserves to meet the shortfall.