Henry's Dog,Sparky,has Been Rolling in the Mud

question 177

Multiple Choice

Henry's dog,Sparky,has been rolling in the mud.Henry must bathe Sparky before the dog gets mud all over the carpet.However,Henry is unable to find the plug for the tub.Sitting on the counter right beside the tub is a fifty-cent piece.In his frustration,Henry fails to see that the coin could be used as an emergency plug for the tub.What happened to Henry?

• A) He took a heuristic approach.
• B) He fell prey to the confirmation bias.
• C) He suffered from mental set.
• D) He employed representational thought.

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Definitions:

Monthly Cash Expenses

The total amount of money spent by an individual or business in cash over the course of a month.

Compensating Balance

A minimum balance that a borrower must maintain in a bank account as a condition for getting a loan from that bank.

Cash Burn

The rate at which a company spends its cash reserves, especially in the context of startups or new ventures.

Monthly Cash Expenses

The total amount of money spent by a business within a month for operational activities, excluding non-cash expenses.