Which of the Following Questions Best Illustrates the "Framing Effects

question 176

Multiple Choice

Which of the following questions best illustrates the "framing effects" studied by behavioral economists?

• A)Which would you rather have after lunch today, an apple or an orange?
• B)How much would you rather receive: $100 while everyone else gets $110, or $80 like everyone else?
• C)Where would you rather invest your funds, in stocks or gold certificates?
• D)What would you rather do: go to college and postpone having a full-time job, or forgo college and get a full-time job now?

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Definitions:

All Jurisdictions

Refers to every area or sector under legal or governmental authority.

Managing Change

The process of guiding an organization through transitions or adjustments to its operations or culture.

Union Involvement

The participation and influence of labor unions in negotiating wages, benefits, and working conditions, and protecting the rights of their members.

Seniority

Length of the worker’s employment, which may be used for determining order of promotion, layoffs, vacation, etc.