-Refer to Figure 10.1.Suppose the individual is initially at point b.Based on the figure,the individual is relatively ______ and will ultimately be a _____.
A) Impatient; saver
B) Impatient; borrower
C) Patient; saver
D) Patient; borrower

Question

-Refer to Figure 10.1.Suppose the individual is initially at point b.Based on the figure,the individual is relatively ______ and will ultimately be a _____.
A) Impatient; saver 
B) Impatient; borrower 
C) Patient; saver 
D) Patient; borrower

Quizplus · Accepted Answer

Given the individual starts at point b, which is below the 45-degree line, it indicates a preference for present consumption over future consumption, demonstrating impatience. Ultimately, this behavior aligns with that of a borrower, who consumes more in the present at the expense of future consumption.