Historically, the Average Revision in the Bureau of Economic Analysis

question 70

Multiple Choice

Historically, the average revision in the Bureau of Economic Analysis' GDP growth rate forecast from its advance to final estimate has been approximately:

• A) 1/4 of a percentage point.
• B) 2/3 of a percentage point.
• C) 1 percentage point.
• D) 5 percentage points.

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Definitions:

Intrinsic Motivation

The drive to engage in activities for their own sake, out of interest or enjoyment, rather than for an external reward.

Intrinsic Motivation

Internal drive that propels someone to act or perform tasks without the need for external reward or recognition.

Framing Effect

A cognitive bias where people decide on options based on whether they are presented in a positive or negative way.

Availability Heuristic

A cognitive shortcut that relies on immediate examples that come to a given person's mind when evaluating a specific topic, concept, method or decision.