If There Is a National Debt,we Can Conclude That the Federal

question 171

Multiple Choice

If there is a national debt,we can conclude that the federal government has

• A) borrowed in the past.
• B) purchased more goods and services than were needed.
• C) spent money foolishly.
• D) loaned funds to U.S. taxpayers in the past.
• E) loaned funds to other nations in the past.

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Definitions:

Confirmation Error

A cognitive bias that involves favoring information that confirms previously existing beliefs or biases.

Framing Error

A mistake in decision-making caused by misrepresenting or misinterpreting the context or information surrounding the decision.

Escalating Commitment

The phenomenon of individuals or organizations continuing to invest in a decision, project, or course of action despite evidence of its failure.

Anchoring Bias

A cognitive bias where an individual depends too heavily on an initial piece of information (the "anchor") when making decisions.