The Value of Production by a U

question 114

Multiple Choice

The value of production by a U.S.worker employed by a firm located in Canada is included in:

• A) both Canada's GDP and Canada's GNP.
• B) both U.S.GDP and U.S.GNP.
• C) Canada's GDP and U.S.GNP.
• D) U.S.GDP and Canada's GNP.

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Definitions:

Representativeness Heuristic

A cognitive shortcut used in decision-making that relies on comparing the similarity of current situations to stereotypes or prototypes.

Cognitive Tendency

Refers to habitual patterns or biases in thinking that can influence judgment and decision-making.

Typical Prototype

An ideal or standard example of a particular category that embodies the most common and salient features of that category.

Expectancy Model

A theory that proposes an individual's motivation is determined by their expected outcome and the valuation of that outcome.