If a Society's Rate of Time Preference Increases, as May

If a society's rate of time preference increases, as may have occurred in the United States during the 1970s, then, ceteris paribus, per capita

A) current consumption increases, future consumption decreases and economic growth accelerates in the long run.
B) current consumption decreases, future consumption increases and economic growth decelerates in the short run.
C) current consumption increases, future consumption decreases and economic growth decelerates in the long run.
D) current consumption increases, future consumption decreases and economic growth stabilizes in the long run.