The Tendency to Assume That If an Item Is Similar

question 102

Multiple Choice

The tendency to assume that if an item is similar to members of a particular category, it is probably a member of that category itself, is known as the

• A) Stroop effect.
• B) base-rate effect.
• C) representativeness heuristic.
• D) availability heuristic.

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Definitions:

Collection Float

The time span between when a check is deposited and when the funds are actually available in the account, reflecting processing time.

Checks

Checks are written, dated, and signed instruments that direct a bank to pay a specific sum of money to the bearer or a designated party.

Bank

A financial institution licensed to receive deposits and make loans.