Michael Works as an Engineer in Arizona,but He Has Been

question 41

Multiple Choice

Michael works as an engineer in Arizona,but he has been offered a better position with RayCo,a firm in Minnesota.RayCo will ship the family's belongings to Minnesota and will provide Michael and his family with temporary housing for three months.Which of the following best describes the type of compensation offered by RayCo?

• A) flexible spending
• B) relocation benefits
• C) voluntary benefits
• D) premium pay

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Definitions:

Framing Effect

The cognitive bias where people's decisions are influenced by the way information is presented, rather than just the information itself.

Representativeness Heuristic

A cognitive shortcut that involves making judgments based on how well something matches or represents a particular prototype.

Overconfidence

The tendency to be more confident in one's own abilities or outcomes than is objectively justified.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a person’s mind when evaluating a specific topic, concept, method, or decision.