Your Best Friend Has Sought Your Advice on What Type

question 178

Multiple Choice

Your best friend has sought your advice on what type of clothing she should buy for a job interview.If she gets the job,she will be assistant to the producer of her favourite television program.She really wants this job and considers it a once-in-a-lifetime opportunity.By asking your help with her wardrobe,what is your friend most likely trying to do?

• A) increase the chances of selective exposure
• B) increase the motivation involved in the decision
• C) reduce perceived risk of negative consequences
• D) eliminate cognitive dissonance

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Definitions:

Seller

An individual or business that offers goods or services for sale to consumers or other businesses.

Lemons Problem

A phenomenon where the presence of information asymmetry in a market leads to low-quality products being sold, as sellers have more information about the product than buyers.

Moral-Hazard

A situation where one party engages in risky behavior knowing that it is protected against the risk because another party will bear the cost.

Above-Equilibrium Wages

Wages that are higher than the market equilibrium, often used by employers to reduce turnover or increase productivity.