The Tendency to Assume That Information That Comes Easily to Mind

question 16

Multiple Choice

The tendency to assume that information that comes easily to mind is more frequent or common is referred to as the _____;the tendency to judge how frequently an event occurs on the basis of how readily one can call to mind examples of that event is referred to as the _____.

• A)representativeness heuristic;correspondent inference
• B)correspondent inference;representativeness heuristic
• C)availability heuristic;ease of retrieval effect
• D)ease of retrieval effect;availability heuristic

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Definitions:

Accounting Salaries

The wages or salaries paid to employees working in the accounting department, reflecting the cost associated with managing financial records and reports.

Fixed Cost

Expenses that do not change with the level of production or sales activities, such as rent, salaries, and insurance premiums.

Screen Printing

A printing technique where a mesh is used to transfer ink onto a substrate, except in areas made impermeable to the ink by a blocking stencil.

Break-even Point

The point at which total costs and total revenue are equal, resulting in no net gain or loss for a business.