The Residents of Broken Hill Form a Lobby Group to Pressure

question 2

Multiple Choice

The residents of Broken Hill form a lobby group to pressure their local member of the Federal Parliament to introduce a Bill preventing the establishment of a new mine.The Executive Government does not support the Bill but the member proposes to introduce the Bill anyway.The Bill will be:

• A)An Opposition Bill.
• B)A Private Member's Bill.
• C)A Mining Bill.
• D)A Public Member's Bill.

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Definitions:

Anchoring Effect

A cognitive bias where an individual depends too heavily on an initial piece of information (the "anchor") when making decisions.

Endowment Effect

A psychological inclination to value possessions more highly solely due to personal ownership.

Endowment Effect

A mental occurrence in which individuals attribute increased worth to objects simply because they possess them.

Losses

Negative financial results stemming from expenses exceeding revenues or from decreases in asset values.