Benefits today cannot be directly compared with costs in the future because:
A. investments aren't always profitable.
B. people do not have perfect willpower and will waste money today.
C. money today is worth more than money in the future.
D. more information is needed to make investment decisions than is typically available.
Answer: C
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________ recognizes that obtaining any scarce good involves a cost which affects behavior and goal setting
a. The Dagher Theory b. Fiduciary thinking c. The Nish-Byer Theory d. Economic thinking
If a construction boom leads to an increase in the price of lumber, how will the higher lumber prices influence the wood furniture market?
a. The demand for wood furniture will decline, and furniture prices will fall. b. There will be a shortage of wood furniture. c. There will be a surplus of wood furniture. d. The supply of wood furniture will decline, and furniture prices will increase.