Multiple Choice
The intertemporal budget constraint basically states that:
A) the present value of consumption must equal lifetime income only.
B) total consumption equals total income.
C) the present value of consumption must equal lifetime wealth.
D) there is no future consumption because there is no future income.
E) the present value of consumption is paid for by today's income only.
Correct Answer:
Verified
Correct Answer:
Verified
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