Cognitive Distortions Are Patterns of Thinking That Make Events Seem

question 106

True/False

Cognitive distortions are patterns of thinking that make events seem better than they are.

---

Definitions:

Elastic

Describes a situation where the demand for a good or service significantly changes in response to a change in price.

Optimal Tax

A taxation principle aiming to maximize economic efficiency without imposing undue burdens or distortions.

Deadweight Loss

Economic efficiency loss occurring when free market equilibrium is not achieved for a good or service.

Revenues

The income generated from normal business operations and includes discounts and deductions for returned merchandise.