The idea that consumers will not consistently discount the future over time is known as ________
A) intertemporal choice
B) tertiary inversion
C) hyperbolic discounting
D) antediluvian Machiavellianism
C
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Which of the following statements is true?
A) When a nation has an absolute advantage over other nations in producing all the goods and services, it cannot gain from trade. B) Absolute advantage relates to production per units of inputs and comparative advantage involves the opportunity cost of producing different goods. C) When a nation has an absolute disadvantage over other nations in producing a good, it cannot gain from trade. D) Absolute advantage involves the opportunity cost of producing different goods and comparative advantage relates to production per units of inputs.
When you purchase a share of stock, you are
A. borrowing funds from the corporation. B. lending funds to the corporation. C. selling an ownership right in the corporation. D. acquiring an ownership right in the corporation. E. b and d
In which of the following markets is economic profit driven to zero in the long run?
a. oligopoly b. monopoly c. monopolistic competition d. cartels
With each successive round of the multiplier effect, the amount of the feedback ______.
a. gets larger b. gets smaller c. exactly doubles d. remains constant