Explain whether the following statement does or does not exhibit time inconsistency: "A person prefers $100 today to $150 one year from now but prefers $150 in seven years to $100 in six years."

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The Answer of Explain whether the following statement does or does not exhibit time inconsistency: "A person prefers $100 today to $150 one year from now but prefers $150 in seven years to $100 in six years."

Explain Whether the Following Statement Does or Does Not Exhibit