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Betty knows that she needs to save 20% of her annual income for retirement. However, she spends 90% of her income each year. This is an indication that Betty’s preferences area.irrational.b.inconsistent over time.c.satisficing rather than maximizing.d.undefined.ANSWER: binconsistent over time.SECTION: OBJECTIVE: 25.Behavioral economics a.integrates psychological insights into economic models.b.relies on the assumption that homo economicus describes economic decisionmaking.c.assumes that economic agents have full information about the conditions surrounding their decisions.d.All of the above are correct.ANSWER: aintegrates psychological insights into economic models.SECTION: OBJECTIVE: