The Parameter $\beta$ In the Consumer's Lifetime Utility Function Represents the ________ and the ________

Multiple Choice

The parameter $\beta$ in the consumer's lifetime utility function represents the ________ and is ________ if utility is worth more today than in the future.

A) weight he or she puts on the future relative to today; less than one
B) value of future consumption; equal to one or equal to zero
C) expected present value of lifetime wealth; unknown today
D) rate of return to savings; equal to long-term bond yields
E) annual income growth; equal to the average GDP growth rate