Jacob Is Taking His Economics Final Exam

question 81

Multiple Choice

Jacob is taking his economics final exam.  He answers question #31 with "D" but isn't sure about it.  After answering all the other questions, he goes back to 31 and starts to believe that perhaps "C" was the right answer.  He decides to stick with "D," most likely because of ____.

• A)downward counterfactual thinking
• B)upward counterfactual thinking
• C)debiasing
• D)the first instinct fallacy

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Definitions:

Renaissance Man

An individual who has wide interests and is expert in several areas, embodying the ideal of the Renaissance's cultural achievements.

Machiavelli

Niccolò Machiavelli, a Renaissance political philosopher from Florence, known for his work "The Prince," advocating for pragmatic and sometimes ruthless political leadership.

Benevolent Rulers

Leaders or monarchs who are known for their kindness and desire to promote the welfare of their people.

Holy Roman Empire

A diverse collection of regions in Central Europe that emerged in the Early Middle Ages and lasted until it was disbanded in 1806.