If a Society's Rate of Time Preference Increases, as May

question 36

Multiple Choice

If a society's rate of time preference increases, as may have occurred in the United States during the 1970s, then, ceteris paribus, per capita

• A) private savings increase.
• B) private savings decrease.
• C) personal consumption decreases.
• D) B and C are both correct.

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Definitions:

Keep Demand

Strategies or practices employed to maintain or increase the desire for products or services among consumers or clients.

Human Resource Strategy

An organizational plan focusing on the management of human capital to align with the objectives and needs of the business.

Labour

The human effort, physical or mental, used in the production of goods and services.

Jobs

Positions of employment where individuals perform specific tasks in exchange for compensation.