Theory a Predicts That the Higher the Opportunity Cost of Having

question 29

Multiple Choice

Theory A predicts that the higher the opportunity cost of having a child,the fewer children a woman will have.Which of the following is evidence against the theory if opportunity cost is measured in terms of foregone salary?

• A) women with high-paying jobs have more children than women with low-paying jobs.
• B) women with low-paying jobs have more children than women with high-paying jobs.
• C) men married to women with high-paying jobs want more children than men married to women with low-paying jobs.
• D) the mothers of women with high-paying jobs will want their daughters to have children more than the mothers of women with low-paying jobs will want their daughters to have children.
• E) none of the above

Recognize the role of emotional management in learning from failures.

Comprehend the significance of experimentation and feedback in the entrepreneurial process.

Understand the spectrum of failure from blameworthy to praiseworthy and the role of ethical boundaries in failure.

Recognize the impact of mindset (growth vs. fixed) on perception and reaction to failure.

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Definitions:

Great Depression

A severe worldwide economic downturn that took place during the 1930s, marked by significant declines in industrial production, widespread unemployment, and deflation.

Public Policy

Government actions and regulatory measures that aim to address public issues, guide economic, social, and administrative activities.

Fully Rational

A term describing decision-makers who, with complete information, are able to consistently make choices that maximize their utility or profit.

Loss Aversion

A cognitive bias where the pain of losing is psychologically about twice as powerful as the pleasure of gaining.