Recall the Application About the Effectiveness of Committees in Making

question 71

Multiple Choice

Recall the Application about the effectiveness of committees in making decisions about monetary policy to answer the following question(s) . Former Fed vice-chairman Alan Blinder developed an experiment to see whether individuals or groups make better decisions, and who makes them more rapidly. The experiment tested how quickly individuals and groups could distinguish changes in underlying trends from random events, such as if a one-month unemployment rate increase was a temporary aberration or the possible beginning of a recession, and their decisions as to changing monetary policy as a reaction to the events.
-Recall the Application. The experiment conducted by Blinder showed that the actual process of having committee meetings and discussions

• A) tended to polarize the group into two distinct factions.
• B) improved the group's overall performance.
• C) magnified the individual group member's differences.
• D) related to the average performance of the individual group members.

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Definitions:

Blood Pressure

The force exerted by circulating blood upon the walls of blood vessels, often measured to assess heart health.

Emphysema

A chronic respiratory disease where the air sacs in the lungs become damaged, leading to difficulty in breathing.

Clubbing of the Fingers

A symptom characterized by bulbous enlargement of the ends of one's fingers, often associated with chronic oxygen deficiency.

Hemoptysis

The coughing up of blood or bloody mucus from the lungs or airway.