Time Inconsistency Arises When the Government

question 51

Multiple Choice

Time inconsistency arises when the government

• A)does not explicitly state its long-term goals.
• B)does not know how to achieve its long-term goals.
• C)is willing to deviate from its long-term goals for the sake of short-run gain.
• D)often changes its long-term goals.
• E)adheres to its long-term goals.

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Definitions:

Behaviorist Principles

A theory in psychology that emphasizes the role of environmental factors in influencing behavior, suggesting that all behaviors are acquired through conditioning.

Binet

A reference to Alfred Binet, a French psychologist who, along with his colleague Théodore Simon, developed the first intelligence test in the early 20th century.

Stanford

A prestigious university located in California, known for its cutting-edge research, especially in technology and medicine.

Galton

Refers to Sir Francis Galton, a 19th-century British polymath known for his contributions to fields such as statistics, psychology, and anthropology.