Elliott's Credit Card Bill Includes a Minimum Payment Amount

question 108

Multiple Choice

Elliott's credit card bill includes a minimum payment amount. Compared to a situation in which a minimum payment amount is not provided, it is likely that Elliott will make a _____ partial payment, reflecting his use of the _____ heuristic.

• A) smaller; anchoring and adjustment
• B) smaller; representativeness
• C) larger; anchoring and adjustment
• D) larger; representativeness

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Definitions:

Cognitive Dissonance

A psychological phenomenon where there is a feeling of discomfort caused by holding contradictory beliefs, values, or attitudes.

Severity Of Initiation

The degree of difficulty or discomfort associated with the process of becoming a member of a group, which can affect individuals' valuation of the group.

Cohesive Combat Groups

Military units that exhibit a high level of unity and teamwork, enhancing their effectiveness in combat situations.

Buffer

A protective barrier or cushioning measure that reduces the impact of negative effects or forces.