Which literary device is characterized by an exaggerated statement not meant to be taken literally?

The correct answer is hyperbole, which is a literary device used to create emphasis or convey strong emotions through exaggerated statements. Hyperbole is not intended to be taken literally; rather, it serves to enhance the meaning of a statement by making it more vivid and memorable. For example, saying "I'm so hungry I could eat a horse" is a hyperbolic expression that highlights intense hunger in a striking way.

Metaphors and similes, while also valuable literary devices, work differently. A metaphor directly compares two unlike things without using "like" or "as," suggesting that one thing is another to illustrate a point, whereas a simile makes a comparison using "like" or "as." Both are meant to create connections rather than exaggerate.

Alliteration involves the repetition of consonant sounds at the beginning of words in a phrase or sentence to produce a rhythmic effect, but it does not relate to exaggeration or statements not meant to be taken literally.

In sum, hyperbole stands out as a device focused on amplification through exaggeration, making it the most fitting choice in this context.