After the September 11^th Attacks, One Division of the Pentagon

question 52

Multiple Choice

After the September 11^th attacks, one division of the Pentagon began to set up a Policy Analysis Market (PAM) , a prediction market for political events in the Middle East. United States senators cancelled the program after discovering that it would allow futures contracts for assassinations and terrorist attacks. Had the PAM survived, how might it have helped the United States government?

• A) by lowering the signal-to-noise ratio in the market
• B) by tipping off terrorists that they were about to be captured
• C) by showing the world that we did not know very much about events in foreign countries
• D) by aggregating dispersed information about political events into a single, readable signal

Utilize mathematical modeling to estimate costs in production and resource allocation decisions.

Analyze the economic implications of pricing and budgeting decisions on creative projects.

Understand the economic and mathematical principles behind efficient resource allocation decisions in political and business contexts.

Understand how production functions are used to calculate total costs in specific business scenarios.

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Definitions:

Image

The perception or representation of someone or something as seen by others or portrayed in media and public discourse.

Professional Presence

The combination of one's appearance, demeanor, and communication skills that contribute to an individual’s ability to make a positive impression in the professional world.

Career Wardrobe Decisions

The process of selecting and organizing attire that is appropriate and conducive to one's professional environment and career goals.

Primacy Effect

The tendency to remember information that is presented first better than information that is presented later.