When consumers value present consumption more than future consumption:
a. they are willing to pay more to consume now rather than wait.
b. they must be rewarded to consume now rather than wait.
c. they are said to have a negative rate of time preference.
d. they are patient and certain.
a
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Which of the following policies improves prospects for more rapid economic growth?
A) policies to increase government expenditure B) limitations on international trade C) policies to increase the educational attainment of the labor force D) encouragement of political instability
In the saving function, autonomous saving is
A) -a + (1 - c)(Y - T). B) (1 - c)Y. C) -a. D) -Y - T.
The hypothesis that regulators eventually adopt policies that benefit the producers in the industry is known as the
A) capture hypothesis. B) producers' hypothesis. C) share-the-gains, share-the-pains hypothesis. D) it's-a-rip-off hypothesis.
In the case where a firm gains an advantage from producing more than one product, it is experiencing
A) economies of scale. B) market economies. C) economies of scope. D) increasing returns to scale.