John Is Willing to Give Up 2 Apples Tomorrow to Get

question 158

Multiple Choice

John is willing to give up 2 apples tomorrow to get one apple today, whereas Bill is willing to give up only 1.5 apples tomorrow to get one apple today. It follows that

• A)John has a higher rate of time preference than Bill, because he is willing to give up more tomorrow to get something today.
• B)Bill has a higher rate of time preference than John, because he is willing to give up less tomorrow to get something today.
• C)if we factor in the price of apples, John and Bill (probably) have the same rate of time preference.
• D)Bill has a lower rate of time preference than John, because he is willing to give up more tomorrow for something today.
• E)John has a lower rate of time preference than John, because he is willing to give up more tomorrow to get something today.

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Definitions:

FIFRA Registration

The process of registering a pesticide in the United States, as mandated by the Federal Insecticide, Fungicide, and Rodenticide Act, to ensure its safety and efficacy.

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Regulations that dictate what information must be included on labels of products to inform consumers.

Environmental Effects

Impacts on the natural environment caused by human activities or natural events, altering ecosystems, wildlife, and human health.

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