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
Economics
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The average propensity to consume (APC) is
A) the rate at which real consumption spending changes over time. B) the percentage of real disposable income saved. C) the percentage of additional real disposable income that will go toward additional consumption spending. D) the percentage of real disposable income consumed.
Economics
Refer to Figure 5-9. The private profit-maximizing output level is
A) Q1. B) Q2. C) Q3. D) Q4.
Economics