A Categorization Heuristic Strategy

question 60

Multiple Choice

A categorization heuristic strategy

• A) allows swift categorization of a target even if the strategy risks an occasional error.
• B) seeks accurate categorization even if the strategy is sometimes inefficient.
• C) predicts both inefficient and slow categorization.
• D) uses prototypes to promote accurate identification.

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Definitions:

Import Quotas

Restrictions imposed by a government on the quantity or value of goods that can be imported into a country, used to protect domestic industries.

Tariff

A tax imposed on imported goods, usually to raise government revenue and protect domestic industries from foreign competition.

Import Quota

A government-imposed limit on the quantity or value of a particular good that can be imported into a country.

Equilibrium Price

The price at which the market is in equilibrium, that is, the quantity of a good or service demanded equals the quantity of that good or service supplied; also referred to as the market-clearing price.