Many People Believe That There Are More Deaths in the United

question 58

Multiple Choice

Many people believe that there are more deaths in the United States each year due to tornadoes than deaths due to asthma,even though asthma kills more people.This mistaken belief is due in part to the reports of tornadoes being more vivid.This is an example of how our judgments are affected by ____.

• A) the availability heuristic
• B) the representativeness heuristic
• C) the confirmation bias
• D) loss aversion

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Definitions:

Liquidation

Liquidation is the process of bringing a business to an end and distributing its assets to claimants, often occurring when a company is insolvent.

Employee Wages

The regular compensation paid to employees for their labor or services, usually based on hours worked or output.

Indirect Bankruptcy Costs

The difficulties of running a business that is experiencing financial distress.

Bankruptcy Filing

A legal process through which individuals or businesses unable to meet their debts can seek relief from some or all of their obligations.