Which of the Following Is Not Correct

question 514

Multiple Choice

Which of the following is not correct?

• A)Economists use some familiar words in specialized ways.
• B)Economics has its own language and its own way of thinking, but few other fields of study do.
• C)Supply, demand, elasticity, comparative advantage, consumer surplus, and deadweight loss are all terms that are part of the economist's language.
• D)The value of the economist's language lies in its ability to provide you with a new and useful way of thinking about the world in which you live.

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Definitions:

Primacy Effect

The tendency to remember information that is presented first better than information that is presented later.

Stereotyping

is the act of categorizing individuals into groups and making assumptions about them based on generalizations.

Self-Serving Bias

A cognitive bias where individuals attribute positive outcomes to their own actions and negative outcomes to external factors.

Attribution

The process by which individuals explain the causes of their own and others' behaviors and outcomes.