The ________ is the rule of thumb according to which people's belief about the likelihood that something belongs to a given category increases with the extent to which it shares characteristics with the stereotypical members of that category.
A. Weber-Fechner law
B. availability heuristic
C. representative heuristic
D. adaptive rationality standard
Answer: C
You might also like to view...
The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
A product's price elasticity of demand depends critically on the availability of substitutes
Indicate whether the statement is true or false
Refer to the table above. What is the marginal revenue of the monopolist when it sells 300 units of its product?
A) $1 B) $2 C) $3 D) $4
A ________ is nonrival in consumption and listeners are nonexcludable.
A. concert at a local indoor arena B. satellite radio signal C. lecture in your college's auditorium D. radio signal broadcast through the air