On Saturday,Elbert Walked Through a Crowd at the State Fair

question 38

Multiple Choice

On Saturday,Elbert walked through a crowd at the state fair in a small town in Illinois.On Monday,he walked through a crowded train station in a large crime-ridden city.In both situations,Elbert felt someone brush up against his back pocket.Elbert is more likely to detect that someone is stealing his wallet while in the large city than in the small town due to his lower ____.

• A) difference threshold
• B) response criterion
• C) sensitivity
• D) signal-detection ratio

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Definitions:

Invisible Hand

A concept introduced by Adam Smith to describe the self-regulating nature of the marketplace, where individual self-interests inadvertently benefit society.

Adam Smith

An 18th-century Scottish economist and philosopher, best known for his theories on free market economics detailed in "The Wealth of Nations."

Wealth Of Nations

A seminal book by Adam Smith that discusses what builds nations' wealth, often considered the foundation of modern economic theory.