Discounting the Future Refers to

question 86

Multiple Choice

Discounting the future refers to

• A) Valuing longer-term benefits and costs more heavily than shorter-term benefits and costs.
• B) Overestimating the long-term effects of the decision.
• C) Underestimating the short-term effects of the decision.
• D) Valuing short-term benefits and costs more heavily than longer-term benefits and costs.
• E) Making quick decisions with whatever information is at hand.

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Definitions:

Congressional

Pertaining to or characteristic of a formal legislative body that governs a nation, particularly in relation to the United States Congress.

Patronage

The support, encouragement, privilege, or financial aid that an organization or individual bestows to another; in politics, often refers to the appointment of individuals to government positions based on their support of a party or candidate rather than on their qualifications.

Civil Service

A body of employees in the public sector employed by governmental departments and agencies, excluding armed forces and political appointments.

Cabinet Members

High-ranking government officials who serve in the executive branch, typically heading executive departments and advising the President.