According to the Text,what Type of Inequality Has Been Increasing

question 100

Multiple Choice

According to the text,what type of inequality has been increasing in Canada during the past decade?

• A) consumer inequality
• B) wealth inequality
• C) subjective inequality
• D) possession inequality

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Definitions:

Endowment Effect

A cognitive bias where individuals value an owned object higher than a similar object they do not own, often affecting decision-making and market outcomes.

Framing Effects

Framing effects are cognitive biases where an individual's choice is influenced by the way information is presented, rather than just the information itself.

System 1

An automatic, fast, and often unconscious way of thinking, as described in dual-process theories of cognition.

Framing Effects

The influence on decision-making and judgment caused by the way information is presented, where different phrasing, presentation, or context can significantly alter individuals' choices.