Which of the Following Statements Is Correct

question 286

Multiple Choice

Which of the following statements is correct?

• A)Neither economic theory nor evidence from the U.S. economy suggests that there is a close link between productivity and real wages.
• B)Economic theory suggests that there is a close link between productivity and real wages, but evidence from the U.S. economy fails to confirm that link.
• C)Evidence from the U.S. economy suggests a close link between productivity and real wages, but economic theory provides no basis for such a link.
• D)Both economic theory and evidence from the U.S. economy suggest that there is a close link between productivity and real wages.

Understand the concept of self-serving bias and its distinction from other cognitive biases.

Evaluate the belief in personal control and its implications on behavior and perception.

Identify the possibility of bias in expert opinions and the limitations of expertise.

Understand the principles of evidence-based belief formation and the suspension of belief in the absence of evidence.

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Definitions:

Unrealistic Optimism

The belief that positive outcomes are more likely than negative ones, often underestimating potential risks.

Norepinephrine

A neurotransmitter and hormone involved in the body's response to stress, increasing heart rate and blood pressure, among other functions.

External Attributions

The process of attributing the cause of behavior to situational or external factors rather than to internal characteristics.

Self-Blaming Attributions

The tendency to attribute personal failures or negative events to one's own deficiencies or actions.