Our Tendency to Judge the Likelihood of an Event on the Basis

question 116

Multiple Choice

Our tendency to judge the likelihood of an event on the basis of how readily we can remember instances of its occurrence is called

• A) framing.
• B) confirmation bias.
• C) belief perseverance.
• D) the availability heuristic.

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Definitions:

Economic Growth

The increase in the inflation-adjusted market value of the goods and services produced by an economy over time.

Export Promotion Policies

Government strategies and measures aimed at increasing the quantity of goods and services sold to foreign countries.

Developed Country

A nation with a relatively high level of economic growth and security, often characterized by a high standard of living, advanced technological infrastructure, and a diverse economy.

Developing Countries

Nations with a lower level of socio-economic development, characterized by lower income, human capital, and industrialization compared to developed countries.