All else being equal, a working-age person whose time preference favors delayed gratification tends to have Select one: a. more savings. b. Less income c. Less education d. more consumption

Answer: A. More savings

Explanation:

Delayed gratification, or deferred gratification, describes the process that the subject undergoes when the subject resists the temptation of an immediate reward in preference for a later reward. Generally, delayed gratification is associated with resisting a smaller but more immediate reward in order to receive a larger or more enduring reward later.