If You Have a High Rate of Time Preference, Then

question 190

Multiple Choice

If you have a high rate of time preference, then you are

• A)willing to wait a longer time to consume a good than someone with a low rate of time preference.
• B)not willing to wait a long time to consume a good.
• C)willing to save your earnings so that you can buy more goods in the future.
• D)not acting rationally, because it means that you are willing to delay consumption of goods and services until a later date (but you might not be around to do so).
• E)a and c

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Definitions:

Training Investment

The allocation of resources by an organization towards the development of its employees' skills and knowledge.

Topping Out

A construction milestone where the last beam is placed atop a structure during its erection.

Reward System

A mechanism for providing incentives or compensation in recognition of achievements, behavior, or performance.

Profit-Sharing Programs

Profit-sharing programs are incentive schemes wherein employees receive a share of the company's profits, usually based on the company's earnings over a specified period.