Which of the following does not reflect a positive rate of time preference?
a. Concert-goers yell and scream when the stage is still dark an hour after the concert was scheduled to start.
b. Borrowers have to pay interest on loans.
c. A dieter, allowed three ounces of butter per day, spends the whole allotment on her toast at breakfast.
d. A dieter, allowed three ounces of butter per day, promises himself some new clothes if he can break the habit of spending the whole allotment on his toast at breakfast.
e. A student stays up late every night for a week to finish her term paper two months before it is due.
E
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The "underground economy" is also referred to as
A) the informal sector. B) the halfway economy. C) the net domestic product economy. D) the formal sector.
By focusing the customers on the price of a product, you
a. Increase your chances of engaging in a price war with your competitors b. Make the customers more price sensitive to the product c. Make the demand for the product more elastic d. All of the above