Question

The idea that people prefer goods now rather than the same [7.quantity of goods at a future time is known as a) Human capital theory b) Roundabout production c) Time preference d) Marginal substitution effect of time In the loanable funds market, the demand curve reflects the &willingness of people to a) borrow more when interest rates are lower b) lend more when interest rates are lower. c) lend more when interest rates are higher. d) borrow more when interest rates are higher. .Which of the following theories would account for the fact that wine makers in California's Napa Valley earn far more per acre of vines than do wine makers in Ohio? a) The theory of marginal productivity b) The theory of roundabout production c) The theory of pure economic rent d) The theory of differential rent d) Hinh-naid workere tnnd do b

Answer 1

17. The idea of that people prefer goods now rather than the same quantity of goods at a tuture time is known as ? ag Human Capital theory b) Roundabout Production A Time preference d) Marginal substitution effect of time. Ans: c) Time preference 18. In the loanable funds market, the demand Curve refects the Willingness of people to af borrow more when intrest rate are lower. b) Lend more when Intrest retes are lower. el lend more when Intrest rates are higher & borrow more when intrest rates are higher. rape Intrest Ans: a) borrow, more when are lower.

19 which of the following theories would account for the fact that wine makers in California's Nepa valley ears farmore Per acre of vines than do wine makers in Ohio ? of The theory of marginal productivity by The theory of roundabout proofuction of The theory of pure economic reent. al The theory of differential rent Ans: The theory of Marginal productivity