A Country Experiencing a Growth Rate of 12% Per Year

question 4

Multiple Choice

A country experiencing a growth rate of 12% per year can go from being one of the poorest to one of the richest in

• A)one generation.In the last couple of decades China's growth rate has been higher than 12%.
• B)one generation.However,in the last couple of decades not even China's growth rate has been this high.
• C)three generations.In the last couple of decades China's growth rate has been higher than 12%.
• D)three generations.However,in the last couple of decades not even China's growth rate has been this high.

---

Definitions:

Lack-of-participation Error

A mistake or bias that occurs due to the absence or minimal involvement of certain groups or individuals.

Representativeness Bias

A cognitive bias where individuals incorrectly estimate the likelihood of an event by comparing it to an existing prototype in their minds.

Availability Bias

The tendency to overestimate the likelihood of events based on their availability in memory, often influenced by recent occurrences.

Confirmation Error

A cognitive bias that involves giving more attention and weight to information that confirms one's preexisting beliefs or hypotheses, while ignoring or undervaluing information that contradicts them.