Matt Has $2000 Saved Up for Spring Break

question 62

Multiple Choice

Matt has $2000 saved up for Spring Break.Over Christmas break he decides to spend $400 of it on gifts instead of putting the gifts on his credit card and gradually replaces it in his Spring Break savings over the next few months.An economist would say this behavior is:

• A)rational.
• B)irrational.
• C)utility minimizing.
• D)not observable.

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Definitions:

Bruce Tuckman

A psychologist known for his theory of the stages of group development, including forming, storming, norming, performing, and adjourning.

No Criticism

A principle or approach where negative feedback or challenges are minimized or avoided to maintain a positive or non-confrontational environment.

Us Against The World

A mindset or stance adopted by a group or duo who believe they are confronted by external forces in opposition.

Interchangeably

Used to describe terms, items, or concepts that can be used in place of each other without affecting the overall meaning or function.