Multiple Choice
The parameter 
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
Correct Answer:
Verified
Correct Answer:
Verified
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