Which of the Following Decision-Making Biases Are People with High

question 34

Multiple Choice

Which of the following decision-making biases are people with high and low levels of intelligence likely to fall prey to?

• A)overconfidence bias
• B)hindsight bias
• C)availability bias
• D)confirmation bias

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Definitions:

Marginally Attached Workers

Individuals not in the labor force who want and are available to work but have not searched for a job in the past 4 weeks, hence are not counted as unemployed in labor force statistics.

Economic Reasons

Factors or motivations grounded in economics that explain certain behaviors, decisions, or trends.

Interest Rate

The percentage charged by a lender to a borrower for the use of assets, expressed as a percentage of the principal.

Project Cost

The total financial expenditure incurred in the planning, execution, and completion of a project.