A Participant Is Shown a Picture of a Smiling Face

question 19

Multiple Choice

A participant is shown a picture of a smiling face that is flashed on the screen for a few milliseconds - too fast for the participant to recognize the image. Nonetheless, the participant then judges a neutral image more positively. This is an example of what?

• A) Subliminal priming
• B) Supraliminal reactivity
• C) Affective forecasting
• D) Conceptual pattern-matching

Analyze the relationship between product prices, money income, and budget constraints.

Understand the properties and graphical representation of budget lines.

Comprehend the concept and characteristics of indifference curves.

Differentiate between budget lines and indifference curves in terms of slope, convexity, and what they represent.

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Definitions:

Error-Free Decisions

Decisions made without mistakes, achieved through careful analysis, planning, and consideration of all relevant information.

Recognition Heuristics

A cognitive shortcut where a decision is made based on the recognition or familiarity of an option rather than on a detailed comparison or analysis.

Hardwired Heuristics

Innate or instinctual mental shortcuts that humans use to make decisions or solve problems efficiently.

Dictator Games

A type of economic experiment where one participant (the "dictator") determines how to split an endowment between themselves and another participant, with no repercussions or rewards for their choice.