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.

---

Definitions:

Wernicke's Area

A region of the brain that is important for language development and comprehension.

Language

A system of communication using sounds or symbols that enables us to express our feelings, thoughts, ideas, and experiences.

Expression

The process of conveying thoughts, feelings, or intentions through words, body language, or artistic mediums.

Categorize

to classify or group items or ideas into distinct categories or groups based on shared characteristics.