If individuals make intertemporal choices using "hyperbolic discounting", this may create inefficient choices because individuals will:
a. not take account of their time preferences
b. make choices that are inconsistent over time.
c. have a preference for only consuming in the future.
d. confuse nominal and real interest rates.
b
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Which of the following is a key difference between firms in a perfectly competitive industry and firms in a monopolistically competitive industry?
a) A monopolistically competitive firm does not face entry from other firms. b) A monopolistically competitive firm does not have the exact same product as other firms. c) A monopolistically competitive firm does not choose a level of output where marginal cost is equal to marginal revenue. d) A monopolistically competitive industry does not have a large number of sellers.
When did Regulation Q finally disappear?
A) 1934 B) 1945 C) 1986 D) 2000
We should expect the consumption function to shift downward if
A. real interest rates rise. B. price levels fall. C. consumers become more optimistic about future incomes. D. consumers become more pessimistic about future incomes.
Perfect competition and monopolistic competition differ
A. with respect to the elasticity of their demand curves. B. with respect to product differentiation. C. with respect to influence over the price they charge. D. All of these choices are difference between them.