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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

What type of person is most willing to pay high interest rates?

To determine

Identify the person who is more willing to pay high interest rates.

Explanation

The main reason behind the increasing demand for loanable funds is the positive rate of time preference. It indicates the preference for earlier availability of goods and services over the later availability of goods and services. The majority of people greatly prefers the present consumption to the future consumption...

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