Constance,who Is Single,is in an Automobile Accident in 2016,and Her

question 35

Multiple Choice

Constance,who is single,is in an automobile accident in 2016,and her car sustains $6,200 in damages.Constance does not expect to recover any of the loss from her insurance company.Constance's 2016 AGI is $31,000.Her casualty loss is $3,000;she has other itemized deductions of $1,200.In 2017,Constance's insurance company reimburses her $2,800.Constance's 2017 AGI is $28,000.As a result,Constance must

• A)amend the 2017 return to show the $200 loss.
• B)do nothing and simply keep the $2,800.
• C)amend the 2016 return to show $0 loss and file her 2017 return to show $200 loss.
• D)do nothing to the 2016 return but report $2,800 of income on her 2017 return.

Understand the advantages and disadvantages of using heuristics in decision making.

Acknowledge the impact of cognitive biases and heuristics on perception and choice.

Differentiate between algorithms and heuristics and their use in cognitive processes.

Describe the concept of insight in problem-solving and its sudden occurrence.

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Definitions:

Liberty

A fundamental principle denoting the individual's right to freedom, especially from oppressive restrictions imposed by authority on one's way of life, behavior, or political views.

Equal Treatment

The principle that all individuals must be treated with the same respect and fairness, especially under the law, without discrimination.

Concept of Liberty

A political philosophy principle that emphasizes individual freedom and the right to live one’s life without undue government interference.

Pluralist Democratic Model

A theory of democracy that emphasizes the role of diverse and competing interest groups in shaping public policy.