Following the September 11,2001,Twin Towers Attacks,many Americans Opted to Drive

question 110

Multiple Choice

Following the September 11,2001,Twin Towers attacks,many Americans opted to drive rather than fly.The media coverage of the hijackings caused Americans to overestimate the danger of flying.As it was an event they remember easily,they assumed it could occur frequently.This example illustrates:

• A)the availability heuristic.
• B)the representativeness heuristic.
• C)confirmation bias.
• D)stereotypic bias.

Examine the effects of changes in supply and demand on interests and rents.

Understand the concept of economic profit versus salaries and its significance in business.

Discern the difference between insurable and uninsurable risks in entrepreneurship.

Recognize the functions and effects of economic policies on the supply of loanable funds and investment rates.

---

Definitions:

Asset Accounts

These accounts on the balance sheet represent the resources owned or controlled by a business, which provide future economic benefits.

Revenue Accounts

Accounts that track the income generated by a company from its normal business operations, such as sales of goods or services.

Debit Balances

Accounts in a company's ledger that have a positive balance in a debit account or a negative balance in a credit account, typically assets and expenses.

Liability

A financial obligation or debt that a company owes to another entity.