Long-Term Growth in Production Can Be Partially Explained by

question 29

Multiple Choice

Long-term growth in production can be partially explained by

• A)increases in government spending
• B)increases in availability of resources
• C)reductions in federal taxes
• D)a gradual but consistent increase in the price level
• E)general optimism about the future and the pioneering spirit of America

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Definitions:

Fundamental Attribution Error

The tendency to underestimate the influence of external factors and overestimate the impact of internal factors when making judgments about the behavior of others.

Self-Serving Bias

The tendency for individuals to attribute their own successes to internal factors and put the blame for failures on external factors.

Fundamental Attribution Error

The tendency to overestimate the influence of personal characteristics and underestimate the role of situational factors in explaining others' behavior.

Self-Serving Bias

Self-serving bias is a cognitive bias that leads individuals to attribute their successes to personal qualities and their failures to external factors, protecting self-esteem.