Hans and Frans Are Cousins Who Grew Up in the Same

question 40

Multiple Choice

Hans and Frans are cousins who grew up in the same town in Michigan. Hans goes to the University of Michigan to major in biology. Frans, who is two years younger, still lives at home, but hopes to one day major in psychology. Which of the following is presently a superordinate identity for the cousins?

• A) Resident of Michigan
• B) College student
• C) Psychologist
• D) None of these.

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Definitions:

Retirement Savings

Money that individuals set aside to have financial resources during their retirement, often accumulated through accounts or plans that offer tax benefits.

Automatic Deductions

A financial arrangement where funds are transferred from one account to another at prearranged intervals, often used for recurring payments.

Hyperbolic Discounting

A behavioral economics theory suggesting that people are more likely to choose smaller, immediate rewards over larger, later rewards, displaying a decreasing rate of time preference.

Hyperbolic Discounting

A behavioral economics theory, describing how people tend to choose smaller, immediate rewards over larger, delayed ones.