US Trade Policy Tends to Be

question 32

Multiple Choice

US trade policy tends to be:

• A)positive rather than reactive and ad hoc.
• B)ignorant of the nation's growing trade deficit.
• C)formulated based on short-term domestic political considerations.
• D)ignorant of the nation's growing trade deficit and formulated based on short-term domestic political considerations.

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Definitions:

Confirmation Bias

The tendency to search for, interpret, favor, and recall information in a way that confirms one's preexisting beliefs or hypotheses.

Hindsight Bias

The tendency to believe, after an event has occurred, that one would have predicted or expected the outcome, often oversimplifying the causes and effects.

Morality

Principles concerning the distinction between right and wrong or good and bad behavior.

Anchoring Heuristic

A cognitive bias that describes the common human tendency to rely too heavily on the first piece of information offered when making decisions.