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Discuss at least four common biases and errors in decision making.
Government Purchases
Expenditures by government bodies on goods and services that directly contribute to a nation's aggregate demand.
Social Security Payments
Government transfers paid to eligible individuals, such as the retired, disabled, and survivors, aimed at providing a basic level of financial security.
Private Pensions
Retirement plans offered by private sector employers, unions, or other organizations to provide income to employees after retiring.
GDP
Gross Domestic Product represents the sum value of all products and services generated within a country's boundaries during a certain timeframe.
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