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Question 1

Anthony needs to buy a new phone, so he narrows down the list of possible phones by eliminating those that don’t meet certain criteria. Which strategy is Anthony most likely using? A.fast and frugal heuristicB.elimination by aspects strategyC.theory of bounded rationality D.additive strategy

Revolt · Accepted Answer

B: B

Question 2

Having a lot of choices when making a decision could cause someone to __________.A.feel underwhelmedB.choose exactly what they wantC.feel post-decision regretD.be completely happy with one’s choice

Revolt · Accepted Answer

C: C

Question 3

In relation to potato chips, consumers respond better to advertisements that describe them as being 75 percent fat free than having 25 percent of fat. This illustrates the concept of __________. A.flip-flopping B.loss aversion C.framing D.risky decision making

Revolt · Accepted Answer

C: C

Question 4

The tendency to search for information until finding something that matches one’s own feelings is referred to as _________ .A.confirmation biasB.overconfidenceC.belief biasD.belief perseverance

Revolt · Accepted Answer

A: A

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