Suppose That a Worker in Boatland Can Produce Either 5

question 10

Multiple Choice

Suppose that a worker in Boatland can produce either 5 units of wheat or 25 units of fish per year,and a worker in Farmland can produce either 25 units of wheat or 5 units of fish per year.There are 30 workers in each country.No trade occurs between the two countries.Boatland produces and consumes 75 units of wheat and 375 units of fish per year while Farmland produces and consumes 375 units of wheat and 75 units of fish per year.If trade were to occur,Boatland would trade 90 units of fish to Farmland in exchange for 80 units of wheat.If Boatland now completely specializes in fish production,how many units of fish could it now consume along with the 80 units of imported wheat?

• A)490 units
• B)500 units
• C)610 units
• D)660 units

Understand the mechanism and effects of the gambler's fallacy and "hot hand" misconception.

Analyze the influence of confirmation bias on information processing and belief formation.

Comprehend the importance of distinguishing between intentional and unintentional behaviors in attributions.

Evaluate the role of simulation heuristic in counterfactual thinking and emotional responses.

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Definitions:

Orienting Reflex

An unlearned response in which an organism attends to a stimulus.

Unlearned Response

A natural, instinctive reaction that does not require prior learning or experience to occur.

Spontaneous Recovery

The reappearance of a previously extinguished conditioned response after a pause.

Continuous Reinforcement

A type of learning in which a behavior is reinforced every time it occurs, leading to rapid learning.