When Economists Refer to the Human Tendency to Discount the Future

question 142

Multiple Choice

When economists refer to the human tendency to discount the future, they are referring to the manner in which we

• A) expect the most important decisions to be made at some later date.
• B) tend to stress what happens now or in the near future.
• C) better understand what will happen in the future as opposed to what is happening now.
• D) tend to stress what will happen in the distant future.
• E) expect leaders to remain in office for considerable lengths of time.

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Definitions:

Syllogism Validity

A measure of whether a syllogism (a form of deductive reasoning consisting of a major premise, a minor premise, and a conclusion) logically follows from its premises.

Venn Diagram

A graphical representation used to show all possible logical relations between a finite collection of sets.

Categorical Syllogism

A form of deductive reasoning consisting of a major premise, a minor premise, and a conclusion, based on relationships between categories.

Syllogism Forms

Structured arguments using three propositions: two premises followed by a conclusion, based on deductive reasoning to infer a relationship between items.