1. What is bounded rationality? Why does it exist? Give a real-life example.

2. What is "confirmation bias"? Give a real-life example.

3. Name two biases associated with heuristics and give a real-life example of each one.

Define trade-offs and give real life examples.

Do you believe more savings in the economy leads to more Investment? Why then Keynes, a British economist, propagated more expenditure rather than more savings? Give real life examples to justify your opinion