Perhaps We Often Assume Others Share Our Characteristics,habits,and Opinions Because

question 177

Multiple Choice

Perhaps we often assume others share our characteristics,habits,and opinions because these self-aspects are readily available in memory.This type of thinking,brought about by the ____ heuristic,can cause us to make misguided decisions.

• A) representativeness
• B) pragmatic
• C) functional
• D) availability

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Definitions:

Explicit Costs

Costs that involve direct monetary payment by a business to purchase or maintain resources.

Usury Law

Legal regulations that set maximum interest rates that can be charged on loans to protect consumers against excessively high rates.

Equilibrium Interest Rate

The interest rate at which the demand for money in an economy equals the supply of money, maintaining a balance without excess surplus or shortage.

Market Equilibrium

The state in which market supply equals market demand, leading to price stability.