Those with the Least Patience

question 159

Multiple Choice

Those with the least patience

• A) have the greatest time preference.
• B) have the least time preference.
• C) will demand a higher nominal interest rate but not a higher real rate.
• D) will save the most.
• E) will engage in the most consumption smoothing.

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Definitions:

Bank Statement

A monthly or quarterly document provided by a bank summarizing the transactions, including deposits and withdrawals, that occurred in a specific account.

Service Charge

A fee collected to pay for services related to the primary product or service being purchased.

Interest

The cost of borrowing money or the payment received for lending money, usually expressed as a percentage over a period of time.

Check Register

A record maintained by account holders to track checks written, deposits made, and the current balance of a checking account.