Why is money you receive at some future date worth less to you than money you receive today?
What will be an ideal response?
Money received at some future date is worth less than money received today because if you have the money today, you can use it today to buy goods and services and receive enjoyment from them. In addition, prices are likely to rise, so money received later won't buy as much. Finally, there is some risk that you will not receive the money in the future.
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________ of unemployment during ________ make it easier for workers to ________ wages
A) Low levels; an expansion; negotiate higher B) High levels; an expansion; accept lower C) High levels; a recession; negotiate higher D) Low levels; a recession; accept lower
Which of the following changes would tend to increase measured income inequality? a. An increasing proportion of retired people in the population
b. An increase in the number of divorced people. c. An increasing proportion of high income earning women marry high income earning men. d. All of the above