Society's rate of time preference is
A) the extra amount people would be willing to pay to have consumption goods in the future instead of now.
B) the value that people place on the time saved by purchasing capital goods rather than consumer goods.
C) the extra amount people would be willing to pay to have consumption goods now instead of the future.
D) is negative if people prefer present consumption to future consumption.
C
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Refer to the scenario above. If Maria borrows her parents' car and pays for only the gasoline, what is her total cost of driving to destination A?
A) $90 B) $250 C) $300 D) $340
Please briefly describe what is meant by a gold exchange standard
What will be an ideal response?
The world's economies can be divided into four main categories according to their annual per-capita income levels. Which one of the following is NOT one of the categories?
A) low-income B) upper middle-income C) high-income D) lower middle-income E) middle-income
A tax and a regulation that have the same effect on output in the short run will have different effects in the long run. _____ creates profits which encourages _____, while _____ creates losses and encourages _____
a. Corrective taxation; entry; regulation; exit b. Regulation; entry; corrective taxation; exit c. Corrective taxation; exit; regulation; entry d. Regulation; exit; corrective taxation; entry