The Role of Behavioral Economics in Public Policy Design
- 1. What is a common example of a behavioral economics concept used in policy-making?
A) Free market principles
B) Centralized planning
C) Austerity measures
D) Nudging
- 2. What is the concept that suggests people are more likely to stick with the default option?
A) Status quo bias
B) Rational choice theory
C) Tax evasion
D) Inflation targeting
- 3. What is the concept that refers to people's tendency to follow the actions of others in decision-making?
A) Social proof
B) Herd behavior
C) Altruism
D) Isolation effect
- 4. Which psychological concept suggests that people are more likely to undertake a task if they perceive it to be incomplete or interrupted?
A) Self-serving bias
B) Zeigarnik effect
C) Loss aversion
D) Cognitive dissonance
- 5. Which theory suggests that individuals have limited willpower and self-control when making decisions?
A) Game theory
B) Ego depletion theory
C) Hedonic calculus
D) Utility theory
- 6. Which cognitive bias suggests that people tend to favor information that confirms their pre-existing beliefs or hypotheses?
A) Confirmation bias
B) Framing effect
C) Sunk cost fallacy
D) Anchoring bias
- 7. What term refers to a situation where small changes can lead to significantly different outcomes over time?
A) Linear progression
B) Instantaneous impact
C) Butterfly effect
D) Divergent evolution
- 8. What is the term for the tendency to rely on the first piece of information encountered when making decisions?
A) Loss aversion
B) Availability heuristic
C) Recency effect
D) Anchoring bias
- 9. Which field of study combines elements of economics and psychology to understand decision-making in real-world situations?
A) Political science
B) Philosophy
C) Behavioral economics
D) Anthropology
|