The Term "Cognitive Miser" Was Coined to Refer to ____

question 160

Multiple Choice

The term "cognitive miser" was coined to refer to ____.

• A) people's general reluctance to do much extra thinking
• B) people's general reluctance to share their ideas with other people
• C) people's tendency to give themselves the benefit of the doubt in ambiguous situations
• D) people's tendency to blame negative experiences on other people (or on other external circumstances)

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Definitions:

Tax

A compulsory financial charge or levy imposed by a governmental organization in order to fund various public expenditures.

Price Elasticities

The responsiveness of the quantity demanded or supplied of a good to a change in its price.

Excise Tax

A tax charged on specific goods and services, such as tobacco and gasoline, intended to reduce their consumption or raise revenue.

Deadweight Loss

A loss in social welfare that occurs when market equilibrium is not achieved due to externalities or market control.