Q34. Systems 2 thinking is most appropriate when: a. You don\'t understand a pro
ID: 468847 • Letter: Q
Question
Q34. Systems 2 thinking is most appropriate when:
a. You don't understand a problem b. Making group decisions c. When you don't require deep thought to make a decision d. When you require careful analysis to make a decision
Q35. What did the strawberry jam study (module 5 slides) conclude about analyzing a problem before making a decision?
a. You can over analyze the problem, leading to weaker decisions b. You can under analyze the problem, leading to weaker decisions c. The amount of effort you put into analyzing problems is not related to the strength of your decision d. The appropriateness of your analysis of problems needs to be determined in the context of the decision you are making
Q27. Wikipedia demonstrates the effectiveness of distributed group decision making in certain circumstances.
a. True
b. False
Q24. When a decision is made based on the largest number of ?votes? cast, but where 50% support is not achieved, this is called:
a. 100% consensus decision making
b. Majority rule decision making
c. Plurality decision making
d. Non-rational decision making
Q15. A key premise of the behavioral economics perspective on decision making is that:
a. When making decisions, people optimize the returns they achieve
b. People seldom approach decision making rationally
c. Decision making is most effective when it is built on quantitative models
d. Most decision making boils down to making supply vs. demand choices
Q16. Which of the following disciplines approaches decision making from a quantitative perspective?
a. Decision science
b. Public policy
c. Social psychology
d. Neuroscience
Q17. Which of the following findings is an important contribution of social psychology to decision making theory and practice?
a. The section of the brain that is most closely associated with decision making is the prefrontal cortex
b. Decision making is strongly affected by personality
c. In making decisions, people are primarily influenced by perceived financial rewards
d. When individuals make decisions, they are heavily influenced by peer pressure
Q18. Welfare economics is principally concerned with providing poor people with food and shelter.
a. True
b. False
Q13. Which of the following statements is not true in general?
a. Decision makers are comprised of multiple players holding different perspectives
b. Working outside the formal decision making process, stakeholders will try to influence decisions in order to achieve their desires
c. When making decisions, decision makers must accommodate the perspective of the community that will be affected by the decision
d. Decision makers and decision implementers generally view decisions from the same perspective
Q8. Which of the following is an important benefit associated with examining carefully the decision space of a decision?
a. It helps surface political issues that may be associated with the decision
b. It quickly highlights the most effective decision that can be made
c. It can be used by stakeholders to promote their specific interests
d. It assures that all the key players in the decision process ultimately agree with the decision that is made
Q9. A community faces an economic calamity when its Number One employer shuts down its operations ? Which category of decision space ?player? does this scenario reflect?
a. Decision maker
b. Decision implementer
c. External forces
d. Stakeholder
Q10. If a majority of decision makers vote in favor of a decision, this indicates that the decision has strong support and will be implemented effectively.
a. True
b. False
Q11. While group decision making needs to accommodate more players than individual decision making, fundamentally the decision making basics are the same in both cases.
a. True
b. False
Q4. A key feature of decision making under conditions of risk is:
a. You know the probability of an event
b. You don't know the probability of an event
c. It lends itself to assessing risk through group decision making processes
d. It is built on the qualitative assessment of data
Q5. When a financial trader takes great risk in selecting a stock for which he will earn a large commission with no chance of being held accountable for the decision, this offers an example of:
a. The principal-agent problem
b. Criminal behavior
c. Moral hazard
d. Illogical thinking
a. True
b. False
Explanation / Answer
34. Systems 2 thinking is a mode of thought which tends to be logical. This type of thinking tends to be slower. More deliberation and calculation is required in this mode of thinking. This type of thinking tends to be conscious.
Thus the answer is option "d" - When you require careful analysis to make a decision. This is because when careful analysis is required then the mind uses its analytical mode before making a decision. There is a clear dominance of reasoning and analysis in the decision making process.
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