________ Is the Tendency to Make Assessments by Starting from an Initial

question 152

Multiple Choice

________ is the tendency to make assessments by starting from an initial value and then adjusting insufficiently away from that initial value.

• A) Anchoring
• B) Availability
• C) Overconfidence
• D) Confirmation

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Definitions:

Proponent

An advocate or supporter of a particular idea, policy, or project.

Monetarism

An economic theory which argues that the management of the economy should be primarily based upon adjustments to the monetary supply, by governmental policies.

Obsession

A persistent and intrusive thought or idea that preoccupies a person's mind, often leading to compulsive behavior.

Quantity Theorists

Economists who believe that the quantity of money available in an economy significantly affects its price levels and inflation rates.