Because of Perceptual Filters, _____

question 79

Multiple Choice

Because of perceptual filters, _____.

• A) people organize and interpret what they pay attention to in the same manner
• B) the beliefs of people do not influence the meaning they attach to new information
• C) people attend to some stimuli and not others
• D) people are unlikely to incorporate new knowledge that is consistent with what they already know

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Definitions:

Miles

A unit of distance or length, traditionally equal to 5280 feet in the United States and slightly more than 1609 meters by international agreement.

Perfect Substitutes

Goods that a consumer is completely indifferent between, meaning that one can replace the other in consumption without any loss of utility.

Income Effect

The income effect describes how a change in a consumer's income affects their purchasing power and consumption choices.

Substitution Effect

The economic concept describing how consumers react to a change in price of a good by substituting it with another good, holding their level of satisfaction constant.