Which of the Following Is a Microeconomic Statement

question 70

Multiple Choice

Which of the following is a microeconomic statement?

• A) Tariff barriers hurt all Canadians.
• B) Inflation will remain low for the next two years.
• C) Inflation and unemployment will remain low for the next two years.
• D) Increased gasoline prices have raised taxi fares by 10%.
• E) National output remained constant last year.

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Definitions:

Self-Serving Bias

The common human tendency to attribute positive events to one's own character but attribute negative events to external factors.

Fundamental Attribution Error

The tendency to overemphasize personal characteristics and ignore situational factors when judging others' behaviors.

Self-Fulfilling Prophecy

A belief or expectation that influences behavior in a way that causes the belief to become true.

Projection

A defense mechanism by which individuals attribute their own undesirable feelings or thoughts to others.