Economists

question 8

Multiple Choice

Economists

• A) always put the independent variable on the horizontal axis and the dependent variable on the vertical axis.
• B) always put the dependent variable on the horizontal axis and the independent variable on the vertical axis.
• C) are somewhat arbitrary in assigning independent and dependent variables to the horizontal and vertical axes.
• D) measure the slope of a line differently than do mathematicians.

Distinguish between cognitive and affective conflicts within teams and their impact on team dynamics.

Identify strategies to promote team cohesiveness and the factors that may hinder it.

Understand the concept of self-managed teams and their operational dynamics.

Understand the concept of homemade leverage and its practical implications for individual investors.

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Definitions:

Actions

Behaviours or deeds performed by individuals in response to external or internal stimuli.

Conformists

Individuals who comply with group norms or standards.

Base Rate Fallacy

The tendency to ignore or underuse base rate information and instead to be influenced by the distinctive features of the case being judged

Representativeness Heuristic

A cognitive shortcut where an individual assesses the probability of an event based on how similar it is to the typical case.