The Availability Bias Is…

question 9

Multiple Choice

The availability bias is…

• A) the tendency to form a conclusion on the basis of all the evidence that exists on an issue.
• B) the tendency to form a conclusion on the basis of only the evidence easily at hand, rather than on the basis of all the evidence.
• C) the tendency to be available to only those from one point of view.
• D) the tendency to overlook easily available evidence.

---

Definitions:

Consumer Price Index

A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, often used to indicate inflation.

Inflation Rate

The percentage rate of increase in the price level of goods and services in an economy over a period of time.

Technological Change

The overall process of invention, innovation, and diffusion of technology or processes.

CPI

Utilizing a weighted average to calculate, the Consumer Price Index serves as a barometer for the price movements of a range of consumer services and goods, including transportation, healthcare, and food items.