In Certain Cases, a Profile of a Line Tolerance Is

question 12

True/False

In certain cases, a profile of a line tolerance is used as one segment in a multiple single-segment profile tolerance. In this case, the profile of a surface tolerance in the lower segment controls the size, location, and orientation of the conical surface. The profile of a line tolerance in the upper segment controls the orientation and form of the line elements (in one direction) of the conical surface.

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Definitions:

Present Consumption

The act of using goods and services to satisfy current needs and desires rather than saving for future use.

Self-Control Problems

Refers to the difficulty people have in sticking with earlier plans and avoiding suboptimal decisions when finally confronted with a particular decision-making situation. A manifestation of time inconsistency and potentially avoidable by using precommitments.

Time Inconsistency

The human tendency to systematically misjudge at the present time what will actually end up being desired at a future time.

Behavioral Economists

Economists who study the psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions.