A mother gives her teenage daughter two choices: spend 20 minutes cleaning her room today or spend 25 minutes cleaning her room tomorrow. The same mother gives her same daughter two additional choices: clean out the garage for 20 minutes next Tuesday or 25 minutes next Wednesday. According to economic theory,
A) if the daughter chooses to procrastinate, she is behaving irrationally.
B) the daughter will likely choose to clean out her room tomorrow but clean out the garage next Tuesday.
C) the daughter will likely choose to clean out her room tomorrow and clean out the garage next Wednesday.
D) if the daughter chooses to procrastinate, she is exhibiting satisficing behavior.
Correct Answer:
Verified
Q91: Conventional economic theory suggests that in the
Q92: Suppose a group of people read an
Q93: Ihaveathousandfriends Social Networking firm had a remarkably
Q94: Brittany decides to save $50 from each
Q95: The results of the ultimatum game illustrate
Q97: People tend to wait until deadlines get
Q98: Don is convinced that it would be
Q99: Jane spends 85% of her income each
Q100: According to behavioral economics, participants in a
Q101: Economists have found that entrepreneurs are likely
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents