Intuition Involves Two Stages of Mental Processing

question 13

Multiple Choice

Intuition involves two stages of mental processing.The first stage is _______________ and the second stage is _______________.

• A)subconscious;nonconscious
• B)explicit;implicit
• C)nonconscious;conscious
• D)effortful;automatic

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Definitions:

Inflation

The velocity at which the cost of goods and services universally goes up, reducing the buying power.

Elasticity Measures

refer to the quantitative analysis of changes in economic variables in response to changes in other variables, such as price or income.

Income Elasticity

A measure of how the demand for a good changes in response to a change in consumers' income.

Confederate Currency

The currency issued by the Confederate States of America during the American Civil War, now considered a collectible item.