When People Wish to Make Accurate Judgments,but Don't Have the Time

question 90

Multiple Choice

When people wish to make accurate judgments,but don't have the time or ability to analyze the evidence closely,they often rely on "shortcut" evidence.According to the text,shortcut evidence can be gathered from all of the following EXCEPT

• A) strength of the arguments.
• B) credible communicators.
• C) others' responses.
• D) cognitively ready ideas.

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Definitions:

Pareto Efficient

A state of allocation where it is impossible to make any one individual better off without making at least one individual worse off.

Utility Function

A mathematical representation that ranks the preferences of an individual consumer for different bundles of goods.

Initial Endowment

The original allocation of resources, including assets and goods, available to an individual or entity at the start of an economic analysis.

Utility Function

A formula that quantifies the happiness or satisfaction a consumer gains from consuming different combinations of goods and services.