Asked by Jessica Johnson on May 02, 2024
Verified
Which of the following is true regarding spendthrifts and tightwads?
A) Spendthrifts spend cautiously; tightwads hate spending.
B) Spendthrifts hate spending; tightwads do not spend.
C) Spendthrifts spend occasionally on others; tightwads never spend on others.
D) Spendthrifts spend freely; tightwads hate spending.
Spendthrifts
Individuals who spend money in an extravagant and uncontrolled manner.
Tightwads
Individuals who are excessively frugal, often to the point of foregoing necessary or beneficial expenditures out of an aversion to spending money.
- Acquire knowledge of the foundational aspects of behavioral economics and how it affects economic choices.
Verified Answer
LH
Lynzi HoffmanMay 03, 2024
Final Answer :
D
Explanation :
Spendthrifts are known for spending money freely and often imprudently, while tightwads have a strong aversion to spending money and often experience discomfort at the thought of parting with their funds.
Learning Objectives
- Acquire knowledge of the foundational aspects of behavioral economics and how it affects economic choices.