Macroeconomics
10th Edition
ISBN: 9781319105990
Author: Mankiw, N. Gregory.
Publisher: Worth Publishers,
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Question
Chapter 19, Problem 4QQ
To determine
The behavior of people to time inconsistent preferences.
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Explain the importance of
macroeconomics in an
economy
The law of Time Preference tells us that
A. People always value a good available in the near future more highly than an equal quantity of the same good available in the more remote future, all other things equal
B. People prefer a greater quantity of a good to a lesser quantity of the same good
C. People will always choose the shortest processes of production
D. People will always devote more of their resources to consumption than to investment, all other things equal
Which of the following is not a variable of interest in macroeconomics?
O the level of planned investment
the overall level of employment
the overall level of prices
the price of coffee
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