The a Company Collects Bushels of Wild Berries,which It Sells

question 23

Multiple Choice

The A company collects bushels of wild berries,which it sells for $2 million to the B company to be made into jam.The B company's wild berry jam is sold for a total of $6 million.What is the total contribution to the country's GDP from companies A and B?

• A)$2 million
• B)$4 million
• C)$6 million
• D)$8 million

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Definitions:

Framing Effect

The cognitive bias where people decide on options based on whether they are presented in a positive or negative way, rather than on the content itself.

Confirmation Bias

The inclination to seek out, understand, prefer, and remember details in a manner that validates one's existing opinions or theories.

Sunk Cost Effect

The phenomenon where a person continues an endeavor because of previously invested resources (time, money, or effort), despite potential losses.

Availability Heuristic

The availability heuristic is a mental shortcut that relies on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision.