Chapter 12, on Reasoning and Decision Making, Emphasizes That We

question 79

Multiple Choice

Chapter 12, on reasoning and decision making, emphasizes that we frequently endorse our current hypotheses and thoughts, rather than questioning them. Which of the following topics is least likely to show an overemphasis on our current hypotheses?

• A) The confirmation bias
• B) Illusory correlations
• C) The recognition heuristic
• D) The anchoring and adjustment heuristic

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Definitions:

Aggregate Demand

Aggregate demand represents the total demand for all goods and services in an economy at a given overall price level and in a given time period.

Market Price

The current price at which a good or service can be bought or sold in a given market.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price level, at a given moment.

Nitrogen Oxide

Gases produced from the reaction between nitrogen and oxygen during combustion at high temperatures, often contributing to air pollution.