Time value of money refers to changes in consumer spending when inflation occurs.

Name: Time value of money refers to changes in consumer spending when inflation occurs.
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Time value of money refers to the concept that a sum of money is worth more now than the same sum will be in the future due to its potential earning capacity. This principle underlies the concept of interest and investment growth over time, rather than changes in consumer spending due to inflation.

Time Value of Money Refers to Changes in Consumer Spending