Match Each Definition with the Appropriate Term

question 46

Multiple Choice

Match each definition with the appropriate term.
-the tendency to look for or pay attention only to information that supports one's own belief

• A)hindsight bias
• B)confirmation bias
• C)heuristic
• D)mental set
• E)algorithm

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Definitions:

Lorenz Curve

A graphical representation of the distribution of income or of wealth within a population, highlighting inequalities.

Gini Ratio

An indicator of how income is distributed across a population, varying from 0 for total equality to 1 for absolute inequality.

Income Inequality

The disparity in income distribution across a group, causing variations in wealth and standards of living.

Lorenz Curve

A graphical representation used to show the distribution of income or wealth within a society, indicating the degree of inequality.