We don't evaluate a person in isolation. Our reaction to a person is influenced by other persons we have recently encountered. This is known as the ________
A) halo effect
B) contrast effect
C) confirmation bias
D) framing effect
E) impact bias
B
Explanation: B) Contrast effect is the evaluation of a person's characteristics that is affected by comparisons with other people recently encountered who rank higher or lower on the same characteristics.
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The major advantages of futures options over futures contracts include
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