People Make Mistakes in Allocating Their Time

question 56

Multiple Choice

People make mistakes in allocating their time

• A)only when leisure time is an inferior good
• B)because expectations are not always fulfilled
• C)more often when the cost of making a mistake is high
• D)only when economists remove the assumption that individuals are rational
• E)because information is free and readily available

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Definitions:

Memory Trace

A theoretical construct representing the physical and potentially biochemical changes in the brain associated with a stored memory.

Synaptic Effectiveness

Synaptic effectiveness refers to the efficiency and strength with which a synapse can transmit a signal from one neuron to another.

Long-term Depression (LTD)

A reduction in the effectiveness of neuronal synapses lasting hours or longer following a long patterned stimulus, contributing to the inverse process of synaptic strengthening.

Synaptic Effectiveness

The ability of synapses (junctions between two neurons) to efficiently transmit signals from the presynaptic neuron to the postsynaptic neuron.