People tend to wait until deadlines get close to work on projects in part because they believe that they can complete the projects in less time than it will actually take. Which findings from behavioral economics is this observation consistent with?
a. People tend to be time inconsistent and people tend to be overconfident.
b. People tend to be time inconsistent but not that people tend to be overconfident.
c. People tend to be overconfident, but not that people tend to be time inconsistent.
d. Neither that people tend to be overconfident nor that people tend to be time inconsistent.
a
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The average number of times that a dollar is spent in buying the total amount of final goods and services produced during a given time period is known as
A) gross national product. B) the spending multiplier. C) the money multiplier. D) velocity.
Opportunistic behavior on the part of the employer is possible because:
a. contracts are often incomplete and leave room for implicit understandings between the two parties. b. employees often reduce their effort level if they are important to the company. c. it is difficult to monitor all employees and their performances. d. good quality work can be easily measured.