Old Country Productions requires skilled furniture finishers to put the final touches on all of the furniture it produces

Which one of the following refers to the fact that an individual may reply differently if a question is asked in a different manner?    A.  loss aversion B.  gambler's fallacy C.  frame dependence D.  overconfidence E.  format reference Refer to section 22.3

6.	General rules used as the basis for decision making are referred to as:    A.  a loss aversion technique. B.  heuristics. C.  self-attribution. D.  narrow framing. E.  confirmation bias. Refer to section 22.4

7.

Bill feels that he possesses a good dose of "street smarts". Thus, he makes his business decisions based on how a project feels to him rather than taking the time to financially analyze a project. This type of behavior is referred to as:    A.  overconfidence. B.  endowment effect. C.  money illusion. D.  affect heuristic. E.  sentiment-based risk. Refer to section 22.4

8.

Old Country Productions requires skilled furniture finishers to put the final touches on all of the furniture it produces. The firm hired two individuals last year who had been students in Mr. Tedwell's wood shop class in high school. Both of these employees have demonstrated exceptional skills and have already been promoted to senior finishing positions. The firm currently has an opening for one additional finisher. Tom, the head of the finishing section, has stipulated that he only wants to interview candidates who have completed Mr. Tedwell's course. Tom's behavior is typical of someone who has which one of the following characteristic behaviours?    A.  endowment effect B.  framing effect C.  representativeness heuristic D.  narrow framing E.  affect heuristic Refer to section 22.4

9.

In an efficient market, it is believed by some individuals that the actions of traders who constantly buy and sell on any perceived market mispricings will in effect cause market prices to correctly reflect asset values. A person who believes that the actions of these traders will not result in correctly valued prices are most apt to believe in which one of the following?    A.  gambler's fallacy B.  limits to arbitrage C.  availability bias D.  false consensus E.  clustering illusion Refer to section 22.5