In the National Football League draft, a pick in this years draft is worth a pick in
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In the National Football League draft, a pick in this year’s draft is worth a pick in a lower round in a future draft (e.g., you might trade a second-round pick in this year’s draft for a first-round pick in next year’s draft). Explain how this is consistent with the concept of discounting.
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Discounting tells us that the value of money declines as it recedes into the future ...View the full answer
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