Describe what the term positive rate of time preference means. Explain the difference between having a high rate of time preference and a low rate of time preference. State who would be more likely to save money and who would be more likely to borrow money based upon their degree of time preference.

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The Answer of Describe what the term positive rate of time preference means. Explain the difference between having a high rate of time preference and a low rate of time preference. State who would be more likely to save money and who would be more likely to borrow money based upon their degree of time preference.

Describe What the Term Positive Rate of Time Preference Means