Which of the Following Students Provides the Most Accurate Information

question 21

Multiple Choice

Which of the following students provides the most accurate information about the representativeness heuristic?

• A) Ko-Eun: "We use the representativeness heuristic when we judge frequency in terms of how easily we can think of examples of a category."
• B) Tianna: "The representativeness heuristic demonstrates that we initially make a guess, and then we make modest adjustments to that initial guess."
• C) Brandon: "When using the representativeness heuristic, we overemphasize the base rate and don't pay enough attention to the availability heuristic."
• D) Celia: "The representativeness heuristic typically works well, although we tend to ignore other relevant information that we should consider."

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Definitions:

Resource Market

A market in which households sell and firms buy resources or the services of resources.

Product Market

A market in which products are sold by firms and bought by households.

Tax Revenue

The income that is gained by governments through taxation.

Public Sector

The part of the economy composed of government services and institutions, funded and operated by the government.