If a Person's Marginal Rate of Time Preference for Equal

question 47

Multiple Choice

If a person's marginal rate of time preference for equal amounts of consumption in the present and next periods is greater than one, she is said to be:

• A)elastic.
• B)normal.
• C)impatient.
• D)patient.

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Definitions:

Access

The right or opportunity to use or benefit from something, such as services, data, or resources.

Two-Factor Theory

A psychological theory proposing that human emotions result from a combination of a state of physiological arousal and a cognitive interpretation of that arousal.

Avoidance Learning

is a process by which an individual learns a behavior or response to avoid a noxious or unpleasant situation or stimulus.

Aversive Event

An unpleasant or noxious stimulus that an organism seeks to avoid or escape, often used in aversive conditioning.