Reducing Errors and Biasing by Getting People to Use Deliberate

question 162

Multiple Choice

Reducing errors and biasing by getting people to use deliberate rather than automatic processing is called ____.

• A) debiasing
• B) meta-cognition
• C) ironic processing
• D) anchoring

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Definitions:

Imperfect Markets

Markets that do not meet the strict criteria of perfect competition, often featuring barriers to entry, information asymmetry, or monopoly power.

Extraordinary Hazards

Uncommon and severe risks that are not typically encountered in the ordinary course of business or daily life.

Technological Progress

The improvement or innovation in technology, leading to more efficient processes, products, or methods.

Farm Price Support

Government policies designed to maintain or increase the market price of agricultural products through mechanisms such as subsidies or purchase commitments.