Which of the Following Is Not an Example of a Systematic

question 282

Multiple Choice

Which of the following is not an example of a systematic mistake that people make?

• A)When asked to predict how many movie stars he can list, Ed says 200 but when put to the test he can only name 130.
• B)Susan watched a home improvement show in which a contractor installed a faulty deck which collapsed within 2 years of installation. She is now concerned about the safety of her own deck.
• C)Kate's manager asks her to work additional hours for which she will be paid her usual hourly wage. Kate weighs the value of her leisure time against the additional wages before responding to her manager.
• D)Bill has purchased Skillman tools for years and has recently noticed a decline in quality and durability of Skillman tools. Still, when he needs a new drill, he purchases a Skillman brand drill.

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Definitions:

Cyclical Unemployment

Unemployment that results from business cycle fluctuations in the economy, typically increasing during recessions and decreasing during expansions.

Idle Capacity

The portion of a business's resources that is not being utilized to its full potential in production or service delivery.

Aggregate Supply Curve

Represents the total supply of goods and services that firms in an economy are willing to sell at a given price level in a certain time period.

Upward Slope

In economics, it typically represents an increase or positive trend in a graph, such as rising prices or increasing production over time.