The View That People Make Decisions by Determining How Likely

question 170

Multiple Choice

The view that people make decisions by determining how likely something is to happen,judging the value of the outcome,and then multiplying the two is called:

• A)psychoeconomics.
• B)the rational choice theory.
• C)an algorithm.
• D)quantitative psychology.

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Definitions:

Debt Cancellation

The action of forgiving or nullifying a debt, relieving the debtor of the obligation to repay.

Tariff Reduction

The process of lowering taxes on imported goods, often aimed at promoting free trade among countries.

Infrastructural Support

The basic physical and organizational structures and facilities that provide underlying support for the operation of a society or enterprise.

Food Aid

The provision of food or nutritional resources to populations in need, often in response to famine, natural disasters, or conflict.