If the Marginal Rate of Substitution Between Future and Current

question 23

Multiple Choice

If the marginal rate of substitution between future and current consumption is less than one, then this consumer exhibits

• A)a positive time preference.
• B)a negative time preference.
• C)a neutral time preference.
• D)an increasing preference.

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Definitions:

Biological Rhythms

Natural cycles of change in bodily functions or activities, such as the sleep-wake cycle or hormonal cycles.

Blood Sugar

The concentration of glucose in the blood, an important energy source for the body's cells and a key indicator of metabolic health.

Glutamate

A major excitatory neurotransmitter in the brain, involved in memory and learning.

Neurotransmitter

Chemical substances in the nervous system that transmit signals from one neuron to another.