Saying, "It's Freezing in Here!" When the Heat Is Cut

question 9

Multiple Choice

Saying, "It's freezing in here!" when the heat is cut off in a home-a statement that is wholly subjective-is known as a(n)

• A) intended assertion
• B) truthful assertion
• C) implicit assertion
• D) implied assertion

Identify factors that impact individual and market behaviors from a behavioral economics perspective.

Learn about the importance of context and situation in shaping economic decisions.

Describe the role of System 1 and System 2 thinking in decision making.

Analyze the effect of cognitive biases such as overconfidence, hindsight bias, and confirmation bias on economic decisions.

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Definitions:

Chronic Disease

A long-lasting condition that can be controlled but not cured.

Procedural Knowledge

What a person knows but cannot really talk about; sometimes called knowing how.

Cognitive Psychology

The branch of psychology that studies mental processes including how people think, perceive, remember, and learn.

Explicitly Told

Information or instructions communicated in a direct, clear, and unambiguous manner.