Most economists assume that the goal of elected officials is to promote the public interest

"I'd rather have $100 now than wait for $100 six months from now." This person

A) displays a negative rate of time preference. B) displays a positive rate of time preference. C) displays a zero rate of time preference. D) displays irrational behavior because the money will be more valuable later.

The "lemons problem" is overcome in the used car market by

A) strict government regulation of private deals between individual buyers and sellers of used cars. B) most used cars selling for well below their true values. C) "lemon insurance" policies being offered by insurance companies. D) the existence of used car dealers who are concerned about maintaining their reputations.