Suppose That You Are Working as an Industrial/organizational Psychologist for a Company

question 103

Multiple Choice

Suppose that you are working as an industrial/organizational psychologist for a company. You've determined that the employees tend to be too confident about sales decisions that later turn out to be unwise. Remembering what you learned in your cognitive psychology course, your wisest decision would be to

• A) use the crystal-ball technique.
• B) use the meta-analysis technique.
• C) emphasize that the employees should try to find more information that confirms their beliefs, rather than disconfirming those beliefs.
• D) emphasize that the employees need to review the principles of propositional calculus.

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Definitions:

External Costs

Costs of a transaction or activity that affect third parties who did not choose to incur that cost, often seen in environmental pollution.

Competitive Market

A market structure characterized by a large number of buyers and sellers, free entry and exit, and a product for which there are many substitutes.

External Benefit

A benefit that people other than the consumer or producer enjoy, resulting from a transaction or activity.

Economic Efficiency

A condition in which all available resources are utilized in the most effective manner to satisfy society's needs and wants, minimizing waste and maximizing value.