If People Have a Positive Rate of Time Preference, a Dollar

question 43

Multiple Choice

If people have a positive rate of time preference, a dollar today is worth __________ a dollar in the future.

• A)less than
• B)more than
• C)the same as
• D)Any of the above can be true.

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Definitions:

Reduced

In chemistry, describes a species that has gained electrons during a reaction, often associated with a decrease in oxidation state.

Neutralization

A chemical reaction in which an acid and a base react quantitatively to form water and a salt.

Reduction-Oxidation

A chemical reaction in which the oxidation states of atoms are changed, typically involving the transfer of electrons.

KOH

KOH, potassium hydroxide, is a strong alkali used in industry and as a reagent in the laboratory, especially in saponification reactions.