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When You Evaluate the Group You Belong to as Better

question 137

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When you evaluate the group you belong to as better than others,you are demonstrating what is called an in-group bias.


Definitions:

Opportunity Cost

The cost of foregone alternatives, representing the benefits an individual, investor, or business misses out on when choosing one alternative over another.

Interest Rate

is the cost of borrowing money or the return on investment, expressed as a percentage of the principal, over a specified period.

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