The rate of return that compensates for time preference is assumed to be equal to the rate
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The rate of return that compensates for time preference is assumed to be equal to the rate of interest generated by short-term U.S. government bonds. These bonds are considered to be risk-free, meaning that their rate of return must purely be compensation for time preference and not nondiversifiable risk.
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Related Book For 
Economics Principles Problems And Policies
ISBN: 9780073511443
19th Edition
Authors: Campbell Mcconnell ,Stanley Brue ,Sean Flynn
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