After Graduating from University, You Are Planning to Get a Job

question 115

Multiple Choice

After graduating from university, you are planning to get a job as an accountant.Your best friend Jay is planning on opening his own restaurant.He says he has thought a great deal about this and believes he will be very successful and it is a good decision.You explain to him that most new restaurants fail, but it does not factor into Jay's decision.What does this demonstrate?

• A)Base rates
• B)Anchoring effect
• C)Perceptual defence
• D)Sunk costs
• E)Hindsight

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Definitions:

Mainland

The principal landmass of a country or continent; as opposed to islands or peninsulas.

Arithmetically

Relating to or based on arithmetic, the branch of mathematics dealing with the properties and manipulation of numbers.

Thomas Malthus

An English economist and demographer known for his theory that population growth will always tend to outrun the food supply.

Food Supplies

The availability and distribution of edible goods and commodities to meet the consumption needs of the population.