The Chimpanzee Sultan Used a Short Stick to Pull a Longer

question 58

Multiple Choice

The chimpanzee Sultan used a short stick to pull a longer stick that was out of reach into his cage. He then used the longer stick to reach a piece of fruit. Researchers hypothesized that Sultan's discovery of the solution to his problem was the result of

• A)trial and error.
• B)heuristics.
• C)fixation.
• D)insight.

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Definitions:

Compounded Quarterly

A method where interest is calculated and added to the principal balance four times a year, affecting the total interest accrued over time.

Promissory Note

An economic tool comprising a formal pledge by one party to give a specific amount of money to another, redeemable upon request or at a predetermined time.

Discounted

Refers to the reduction of an item's price or the present value of future cash flows discounted back to the present value.

Proceeds

The amount of money brought in from a transaction or sale, before any expenses are deducted.