If You Have a High Rate of Time Preference, Then

question 89

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).

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Definitions:

Paid in Full

A term indicating that a bill or a debt has been completely paid off and no amount remains due.

Full Balance

This term could refer to the complete settling of a financial account, leaving no outstanding balance.

Endorsement

Official approval or support, often used in the context of public approval by a prominent figure or certification by a regulatory authority.

Date and Time Stamp

A digital or physical mark indicating the specific date and time when an event occurred or a document was created, modified, or received.