Extraneous Events That Are Completely Unrelated to Economic Fundamentals Are

question 37

Multiple Choice

Extraneous events that are completely unrelated to economic fundamentals are called

• A) moonbeams.
• B) black holes.
• C) sunspots.
• D) time warps.

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Definitions:

Unintended Racism

Racial prejudice and discrimination that occur unintentionally, often as a result of implicit biases.

Representativeness Heuristic

Estimating the likelihood of events in terms of how well they seem to represent, or match, particular prototypes; may lead us to ignore other relevant information.

Availability Heuristic

Estimating the likelihood of events based on their availability in memory; if instances come readily to mind (perhaps because of their vividness), we presume such events are common.

Insight

A sudden realization of a problem’s solution; contrasts with strategy-based solutions.