Suppose That a Swiss Watch That Costs 400 Francs in Switzerland

question 81

Multiple Choice

Suppose that a Swiss watch that costs 400 francs in Switzerland costs $200 in the United States.The exchange rate between the franc and the dollar is

• A) 2 francs per dollar.
• B) 1 franc per dollar.
• C) $2 per franc.
• D) $3 per franc.

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Definitions:

Control Bias

A tendency to overestimate one's ability to control events or outcomes, often leading to unrealistic expectations.

Cognitive Tasks

Mental activities that require thinking, problem-solving, decision-making, or memory.

Improve Performance

Strategies or actions aimed at enhancing or increasing the effectiveness, efficiency, or quality of a task or process.

Self-control Cognitive Resources

The mental energy or capacity required to exercise self-control, which can be depleted by overuse in the short term.