The Process of Becoming More Conscious of and Naming What

question 5

Multiple Choice

The process of becoming more conscious of and naming what we value or consider worthy is:

• A) journaling.
• B) values clarification.
• C) overt values.
• D) values conflict.

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Definitions:

Time Preference

The degree to which individuals value present goods or satisfaction over future goods or satisfaction.

Real Rate

The rate of interest an investor expects to receive after allowing for inflation.

Inflationary Premium

The part of the nominal interest rate on a loan or investment that represents compensation for the expected loss of purchasing power due to inflation.

Economic Efficiency

A state in which resources are allocated in the most effective way possible to meet consumers' needs and wants, maximizing output without wasting any resources.