Questions
Princip of Econ-Microeconomics Module 13 Homework Assignment
Single choice
A person who greatly prefers present consumption to future consumption has a(n) __________ rate of time preference.
Options
A.weakly positive (close to zero)
B.efficient
C.strongly positive
D.roundabout
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Step-by-Step Analysis
Question restatement: A person who greatly prefers present consumption to future consumption has a(n) __________ rate of time preference.
Option 1: weakly positive (close to zero). This would imply the individual is patient and willing to wait for future consumption with little discounting, which cont......Login to view full explanationLog in for full answers
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