Bill Is Knowledgeable, but He Also Can See the Consequences

question 175

Multiple Choice

Bill is knowledgeable, but he also can see the consequences that different choices in life will have for the future. Paul Baltes and his colleagues would describe Bill as possessing which of the following traits?

• A) extroversion
• B) openness to experience
• C) wisdom
• D) agreeableness

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Definitions:

Expansionary Fiscal Policy

To fight recessions, the federal government lowers taxes and/or raises spending.

Government Spending

Expenditures made by the government of a country on collective needs and wants such as infrastructure, public safety, education, and healthcare.

Public Debt

Money that is owed by a government to creditors within the country or externally, arising from borrowing to finance expenditures exceeding tax revenues.

Budget Deficits

The amount by which government spending exceeds its revenue over a specified period, leading to a need for borrowing or currency printing.