Compared to fully rational decision making, what is a major advantage of intuitive decision making?
A) total reliability
B) fully quantified
C) thoroughness
D) speed
Answer: D
Explanation: Intuitive decision making is somewhat reliable, but definitely not totally reliable, eliminating that choice. Intuitive decision making is not at all thorough. In fact, it is often employed as a shortcut in decision making. Since the process is never spelled out on paper in terms of numbers and values, intuitive decision making is almost never quantified. Intuitive reasoning is fast, often because decision makers are using years of experience to make a single judgment.
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Indicate whether the statement is true or false
________ make money on currency exchanges by the difference between the ________ price, or the price they offer to pay, and the ________ price, or the price at which they offer to sell the currency
A) Dealers; ask; bid B) Dealers; bid; ask C) Brokers; ask; bid D) Brokers; bid; ask