QUESTION 4

Your professor tries to grade at the same time and on the same days of each week. Why?

1. To reduce the effects of bias.
2. To reduce the effects of noise.
3. To respect his rules-based ethics.
4. To make his rationality more bounded.

QUESTION 5

Trump in a debate calls his opponent "Little Marco" Rubio. This is an example of which fallacy?

1. Straw man
2. Ad hominem
3. Appeal to authority
4. Inconsistency

QUESTION 6

Scenario: a business executive hires an old friend who is not best-qualified for the job. This is an example of a(n)...

1. Red Herring
2. Conflict of interest
3. Marginal thinking
4. Present bias

QUESTION 7

What's the main lesson of the Prisoners' Dilemma?

1. Generally, it's better to cop a plea
2. Cooperate only if the other party cooperates, else defect (cheat)
3. Two completely rational individuals might not cooperate, even if it appears that it is in their best interests to do so
4. It's always better to cheat if that makes you better off

QUESTION 8

An optimization problem has all of these components EXCEPT

1. Weighted priorities
2. Decision variables
3. Constraints
4. Objective function

QUESTION 9

Evaluate this argument:

1. If my economist is an accurate forecaster, then she predicted the 2008 financial crisis.
2. She predicted the 2008 financial crisis.
3. So, my economist is an accurate forecaster.

1. One or more premises are false, so the conclusion is false.
2. The argument is sound: the logic is valid and the premises are true.
3. The argument is a straw man.
4. The argument is invalid: the conclusion does not necessarily follow from the premises.

QUESTION 10

What's the difference between System 1 and System 2 thinking?

1. Heuristics vs. Rules of Thumb
2. Thinking fast vs. slow
3. Individual vs. Group
4. Irrational vs. rational