People who attend college for four years in order to equip themselves to earn higher incomes in later life are
A) discounting the future at a higher rate than do people who don't attend college.
B) giving up future satisfaction for the sake of current satisfaction.
C) ignoring the fact that future income has less value than current income.
D) investing in human capital.
E) revealing a high rate of time preference.
D
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Refer to the scenario above. Which of the following statements will be true in steady state?
A) Economy A will have a lower capital stock and a greater GDP than economy B. B) Economy A will have a greater capital stock and a lower GDP than economy B. C) Economy A will have a greater capital stock and GDP than economy B. D) Economy A will have a lower capital stock and GDP than economy B.
Differentiate between a change in demand and a change in quantity demanded
What will be an ideal response?