According to Proponents of Behavioral Economics, Because Every Possible Choice

question 302

Multiple Choice

According to proponents of behavioral economics, because every possible choice cannot be considered, an individual will tend to fall back on methods of making decisions that are simpler than trying to sort through every single possibility, known as

• A) rules of thumb.
• B) rational options.
• C) irrational choices.
• D) normative decisions.

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Definitions:

Strict

Rigorously imposed or adhered to; precise and exact in instructions or standards.

Contraction

A physiological process where muscles decrease in length and increase in tension.

Ureters

Tubes that carry urine from the kidneys to the bladder, crucial components of the urinary system.

Kidneys

Organs in the human body that filter waste products from the blood to be excreted as urine.