The idea that an individual is willing to accept $80 today instead of $90 two years from now is known as:

Name: The idea that an individual is willing to accept $80 today instead of $90 two years from now is known as:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The concept that money available at the present time is worth more than the same amount in the future due to its potential earning capacity is known as the time value of money. This principle underlies the preference for receiving money now rather than later.

The Idea That an Individual Is Willing to Accept $80