Recall the Application About How Greek Citizens Began to Hold

question 59

Multiple Choice

Recall the Application about how Greek citizens began to hold large amounts of cash in 2015 to answer the following question(s) .
-According to this Application, which of the following is a reason for holding cash?

• A) for convenience
• B) to make a purchase when you cannot use a debit or credit card
• C) fear of financial catastrophe
• D) all of the above

---

Definitions:

Availability Heuristic

A cognitive bias in which people judge the probability of events based on how easily examples come to mind, often leading to skewed perceptions of reality.

Base-Rate

The underlying or foundational rate of occurrence for a particular event or outcome within a given population or dataset.

Base-Rate Information

The frequency with which an event occurs within a general population.

Availability Heuristic

A cognitive bias where individuals rely on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision.