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You have a chance to receive $100 or $1,000 in one month, and you choose $100 today. What does this say about your time preferences?

You have a chance to receive $100 or $1,000 in one month, and you choose $100 today. What does this say about your time preferences?

1.You have a constant discount rate

2.You heavily discount current consumption in favor of future consumption

3.You heavily discount future consumption in favor of current consumption

4.You have a low discount rate

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