Disastrous Decisions Made by Members of the Third Reich, Nixon's

question 42

Multiple Choice

Disastrous decisions made by members of the Third Reich, Nixon's "palace guard," and NASA officials involved in the launch of the ill-fated Challenger space shuttle were a consequence of a maladaptive decision-making strategy Irving Janis calls:

• A) mind-guarding
• B) groupthink
• C) high-risk conformity
• D) collective momentum

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Definitions:

Support Price

A price level set by the government or a regulatory body to stabilize or support the market price of a commodity.

Demand Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, with all else being equal.

Producer Surplus

The difference between what producers are willing to sell a good for and the higher price they actually receive.

Government Policy

Actions, regulations, or laws enacted by a government to influence economic, social, or environmental outcomes within its jurisdiction.