Which Statement Is False

question 256

Multiple Choice

Which statement is false?

• A)Throughout the 1980s,the Soviet Union devoted most of its capital and talent to its military establishment rather than to market reform.
• B)In the late 1970s,China began reforms,which eventually transformed it to a more market-oriented economy.
• C)Russia has been more successful than China in becoming a market-oriented economy.
• D)None of the above statements are false.

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Definitions:

Hindsight Bias

The tendency to believe, after an event has occurred, that one would have predicted or expected the outcome, often simplifying the understanding of cause and effect.

Human Intuition

Possessing the skill to comprehend matters on a gut level, bypassing analytical thought processes.

Random Sampling

A method in statistics for selecting a sample from a population in such a way that every individual has an equal chance of being chosen.

Overconfidence

An unjustified belief in one's abilities, knowledge, or skills, often leading to taking greater risks.