user: Please answer this: On March 2015 Japans economy soared. There was a likelihood that the Japanese yen would rise in value. In the wake of this event, Japanese Government adjusted  the price of Japanese Currency Yen in accordance with the going market price. On the other hand, at he same time, UK was having economic downturn. There was a likelihood that the UK Currency Pound Sterling would go down. Fearing public backlash, UK Government kept the price of the Pound Sterling at the same level.  Given the paragraph above, please answer correctly the following question:   Which country would most likely see a formation of shadow currency exchange market, Japan or UK?  Hint: Often, foreign exchange controls can result in the creation of black markets to exchange the weaker currency for stronger currencies. This leads to a situation where the exchange rate for the foreign currency is much higher than the rate set by the government, and therefore creates a shadow currency exchange market. As such, it is unclear whether governments have the ability to enact effective exchange controls.[1]
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Answer: UK


Please answer this: Nirvania continued to develop and became a first world country by 2025. Its economic strength and the accumulation of capital, led to prosperity and citizen happiness. On the other side of the river, Borania, however, decided to return to dictatorship and it's citizens and investors started to lose hope and move their capital to foreign accounts and investments.  Given the paragraph above, please answer correctly the following question:   Which country has a more devalued currency?  Hint: Capital flight, in economics, occurs when assets or money rapidly flow out of a country, due to an event of economic consequence. Such events could be an increase in taxes on capital or capital holders or the government of the country defaulting on its debt that disturbs investors and causes them to lower their valuation of the assets in that country, or otherwise to lose confidence in its economic strength.  This leads to a disappearance of wealth, and is usually accompanied by a sharp drop in the exchange rate of the affected country—depreciation in a variable exchange rate regime, or a forced devaluation in a fixed exchange rate regime.  This fall is particularly damaging when the capital belongs to the people of the affected country, because not only are the citizens now burdened by the loss in the economy and devaluation of their currency, but probably also, their assets have lost much of their nominal value. This leads to dramatic decreases in the purchasing power of the country's assets and makes it increasingly expensive to import goods and acquire any form of foreign facilities, e.g. medical facilities.
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Answer: Borania


Please answer this: David has been working for the government for many years. His expertise is in statistics. He analyzes numerical data to help lawmakers make better decisions. He has now two sets of data in front of him, data set A and data set B. His evaluation finds that data set A is subject to false precision, but data set B is not subject to false precision. He has to decide which data set should be presented to the lawmakers.  Given the paragraph above, please answer correctly the following question:   Would data set B cause overconfidence or no overconfidence in the accuracy?  Hint: False precision (also called overprecision, fake precision, misplaced precision and spurious precision) occurs when numerical data are presented in a manner that implies better precision than is justified; since precision is a limit to accuracy, this often leads to overconfidence in the accuracy, named precision bias.[1]
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Answer:

assistant: no overconfidence