Counterfactual Reasoning Is Like Controlled Thinking in That It Is

question 204

Multiple Choice

Counterfactual reasoning is like controlled thinking in that it is ________, but it can be like automatic thinking in that it may be ________.

• A) conscious; effortless
• B) effortful; involuntary
• C) intentional; nonconscious
• D) voluntary; instantaneous

---

Definitions:

Downward-Sloping

A characteristic of demand curves where price and quantity demanded move in opposite directions.

ATC Curve

A graphical representation of the average total cost of producing various quantities of output, showing how unit costs change with changes in output level.

AVC Curve

A graph that represents the average variable cost of producing each quantity of output, showing how these costs vary with changes in output levels.

Short-Run Situation

A period in which at least one of a firm's inputs is fixed, limiting its capacity to adjust output levels quickly.