India Largely Avoided the Global Financial Crisis Because

question 21

Multiple Choice

India largely avoided the global financial crisis because

• A) its Reserve Bank had taken a conservative approach and rejected many financial innovations.
• B) the country was protected by its geographic distance from the United States.
• C) real estate development is unknown in India.
• D) of the country's close relationship with Japan.

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Definitions:

False Consensus Effect

The cognitive bias that leads an individual to overestimate how much other people agree with them or share their beliefs and behaviors.

False Uniqueness Effect

The tendency to underestimate the number of other people who share one’s most prized characteristics and abilities.

Theory Perseverance

The phenomenon where individuals maintain their beliefs even in the face of contradictory evidence, often due to the initial formation of a strong impression or belief.

Social Conformity

The act of adjusting one's behaviors, attitudes, or beliefs to align with group norms, often to fit into a society or group.