A Consumer Who Is Time-Consistent

question 84

Multiple Choice

A consumer who is time-consistent:

• A) is on time or a little early for most appointments.
• B) uses nominal and real variables when making economic decisions.
• C) will make the same decision in economic transactions, whether the transaction happens immediately or in the distant future.
• D) will always make different decisions, depending on whether an economic transaction occurs immediately or in the distant future.

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Definitions:

Right to Inspect

The authorized capacity to examine or review something for accuracy, quality, or condition.

Goods

Items that are manufactured or produced for sale.

Shipped

The act of sending or transporting goods from one place to another, typically referring to the movement of merchandise after a sale.

Implied Warranty

An unwritten and unspoken guarantee that a product or service meets the minimum quality and functionality standards, assumed in a sale.