The Abilene Paradox Is a Bias That Was Initially Described

question 7

Multiple Choice

The Abilene Paradox is a bias that was initially described by what kind of situation?

• A)A family continues a trip across the hot desert even though nobody wants to take the trip.
• B)A football game in Texas results in conflict when the teams cannot play fairly.
• C)U)S.President Kennedy decides to invade Cuba,despite clear evidence that the plan won't work (Bay of Pigs).
• D)A famous financier defrauds thousands of people by committing fraud,theft,and money laundering in a huge Ponzi scheme (Bernie Madoff).

Evaluate the effects of demand and supply elasticities on tax-induced distortions in the market.

Discuss the principles underlying the Laffer curve and supply-side economics.

Identify the role of market elasticity in determining the deadweight loss and tax revenue.

Understand the change in consumer and producer surplus due to taxes.

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Definitions:

Foucault

Refers to Michel Foucault, a French philosopher and social theorist known for his influence on various disciplines such as sociology, critical theory, and history of ideas, especially for his works on power, knowledge, and discourse.

Disciplining Bodies

Practices and institutions that aim to regulate, control, and shape bodies according to specific norms, often reflecting power dynamics and social control.

Giddens's Analysis

An approach to understanding society that emphasizes the interplay between structure and agency, as developed by sociologist Anthony Giddens.

Globalization

A worldwide process involving the production, distribution, and consumption of technological, political, economic, and sociocultural goods and services.