While the World Trade Organization Had 155 Member Countries Which

question 38

True/False

While the World Trade Organization had 155 member countries which represent over 97 percent of all world trade, the market formed by NAFTA has more than 465 million people and an annual output of $18.1 trillion in goods and services.

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Definitions:

Cognitive Biases

Systematic patterns of deviation from norm or rationality in judgment, whereby inferences about other people and situations may be drawn in an illogical fashion.

Behavioral Economists

Scholars who study the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions.

Faulty Heuristics

Incorrect or misleading cognitive shortcuts that are used to make decisions or solve problems.

Neurons

Specialized cells within the nervous system that transmit information through electrical and chemical signals.