A Substantial Majority of Americans Have Inadequate Retirement Savings

question 6

Multiple Choice

A substantial majority of Americans have inadequate retirement savings. Behavioral economists attribute this to

• A) time inconsistency of preferences.
• B) lack of self-control.
• C) preferences between current and future consumption that are still being discovered.
• D) framing effects.
• E) a. and b. are both correct.

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Definitions:

Happiness

A state of well-being and contentment characterized by positive emotions ranging from satisfaction to intense joy.

Smiling

is a facial expression formed by flexing the muscles at the edges of the mouth, typically signaling joy, amusement, or sociability.

Variable

A characteristic, number, or quantity that can change or vary, often used in research to measure and analyze differences or effects.

Experimental Group

A group in a scientific study that receives the treatment or intervention being tested, allowing researchers to measure the effect of the treatment.