If Moving an Extra Unit of Future Consumption to Today's

question 68

Multiple Choice

If moving an extra unit of future consumption to today's consumption improves your lifetime utility, you are not:

• A) saving enough.
• B) spending all your future income.
• C) maximizing your lifetime utility.
• D) earning income today.
• E) discounting the future.

---

Definitions:

Factor Of Production

Resources used in the creation of goods and services, typically categorized into land, labor, capital, and sometimes entrepreneurship.

Supply Curve

A graphical representation of the relationship between the price of a good and the quantity supplied.

Marginal Revenue Product

The extra income obtained by using an additional unit of a production input while keeping other inputs unchanged.

Labor Market

The supply and demand for labor, where employees offer their services and employers seek to hire, influencing wages and employment levels.