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Herbert Simon's theory of bounded rationality asserts that people's reliance on simple decision-making strategies often results in suboptimal decisions.
Regulatory Agency
A governmental organization tasked with creating and enforcing rules to regulate and supervise specific industries or activities.
Internal Revenue Service
The federal agency responsible for enforcing U.S. tax laws and collecting taxes.
Creditor
An entity (person or institution) that lends money or extends credit to another entity.
Investor
A person or organization that invests money anticipating financial gains in return.
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