Economics - Cognitive Biases MCQ Test: Economics - Cognitive Biases MCQs - Practice Questions
1. Which cognitive bias involves the tendency to believe that if something happens more frequently than normal during some period, it will happen less frequently in the future?
2. Which bias involves placing greater importance on the most recent events when evaluating a sequence of events?
3. What is the tendency to place more value on the immediate reward rather than a larger but delayed reward?
4. Which cognitive bias involves the tendency to believe that a small sample is representative of a larger population?
5. What is the tendency to recall past events more positively than they may have actually been?
6. What is the tendency to focus on information that confirms one's preexisting beliefs and ignore information that contradicts them?
7. What is the term for the cognitive bias where individuals overestimate their own abilities or knowledge?
8. What is the term for the tendency to attribute others' behaviors to their inherent characteristics (such as personality or disposition) while attributing one's own behaviors to situational factors?
9. What cognitive bias involves the tendency to perceive a relationship between two unrelated events, or to perceive patterns in random data?
10. Which of the following cognitive biases involves favoring the status quo and resisting change?
11. Which cognitive bias involves overestimating the importance of information available at the beginning of a decision-making process?
12. What cognitive bias involves the tendency to believe that one's own abilities or knowledge is greater than it actually is?
13. Which bias involves the tendency to believe that past successes will inevitably lead to future successes, or that past failures will inevitably lead to future failures?
14. What is the term for the cognitive bias where individuals believe they have more control over outcomes than they actually do?
15. What is the term for the tendency to believe that one's own abilities or knowledge is greater than it actually is?
16. What is the cognitive bias where individuals overestimate the extent to which others share their beliefs, attitudes, and behaviors?
17. Which bias involves the tendency to believe that future events are more predictable than they truly are?
18. Which cognitive bias involves the tendency to place undue emphasis on the first information received (the 'anchor') when making decisions?
19. Which cognitive bias involves believing that future events are more likely to occur if they haven't happened recently?
20. What is the term for the tendency to judge events as more extreme than they actually are, often attributing them to a greater cause or significance?