When gasoline at $3.60/gallon looks relatively cheap after a period of $5/gallon gas, that's an illustration of the

Name: When gasoline at $3.60/gallon looks relatively cheap after a period of $5/gallon gas, that's an illustration of the
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Question

Quizplus · Accepted Answer

The framing effect is at play here because the perception of the price of gasoline as "cheap" is influenced by the recent experience of higher prices, altering the context in which the current price is evaluated.

When Gasoline at $3