A concentration on how small and large groups make decisions, focusing on the interactions of the players, is characteristic of which discipline?

a. Decision science

b. Psychology

c. Social psychology

d. Neuroscience

When two or more people come up with a decision based on attempts to accommodate their completely different value systems, the resulting decision can be deemed:

a. A good one

b. A bad one

c. Irrational

d. Non-rational

Which of the following is not a feature of "buy in" by decision makers when making decisions?

a. All the people making the decision agree this is the best decision

b. A majority of people making the decision agree this is the best decision

c. While some players do not actively agree with a decision, they will not oppose it

d. Some people who vote for a decision work against its implementation during the decision implementation process

Welfare economics is principally concerned with providing poor people with food and shelter.

a. True

b. False

When engaged in group decision making, it is important to understand the multiple perspectives of the different players. However, to make an actual decision, we need to go beyond talk and understanding. We need to establish:

a. a decision rule

b. a general sense that we have reached a decision

c. agreement by the power brokers in our organization that our decision is a good one

d. support from those who are unhappy with the prevailing perspective

To a large extent, determining what a group perceives to be a good decision entails reconciling their often opposing perspectives.

a. True

b. False

It is physically impossible for the brain to process all the information presented to it. Consequently, the brain doesn't attempt to handle all the detail but fills in the blanks through:

a. Data aggregation

b. Regression analysis

c. Predictive coding

d. Random sampling

Visual illusion demonstrate that objective facts are not so objective - what people perceive undergoes an interpretive process by the brain

a. True

b. False

IRR measures:

a. The level of profit of an investment

b. The level of revenue of an investment

c. Return on investment

d. The payback period of an investment

A high benefit/cost ratio is generally considered to be attractive. Following is a list describing circumstances where decisions makers might not want to support the project. Which item does not belong on the list?

a. Because the ratio "hides" the size of the benefits and costs, the project may be too small to warrant support

b. Other projects exist with more favorable benefit/cost ratios

c. The fact that benefits and costs are both estimates will yield unreliable results

d. The benefits derived from the project may arrive too far in the future to be attractive

From the perspective of SWOT analysis, which of the following is a strength?

a. The first-rate talent among our employees

b. A booming economy

c. An emerging market for our goods

d. New tax legislation which reduces our tax exposure

To provide meaningful results, Benefit/Cost analysis requires the employment of monetary data.

a. True

b. False