The consumer's lifetime budget constraint states that
A) the present value of lifetime consumption must be equal to the present value of lifetime gross income.
B) the present value of lifetime consumption must be equal to the present value of lifetime disposable income.
C) the present value of lifetime consumption plus the present value of lifetime taxes to be paid must be equal to the present value of lifetime income.
D) the present value of lifetime taxes to be paid by the consumer must be equal to the present value of government spending.
B
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A) 23 B) 31 C) 62 D) 162
Prior to the health care reforms passed in 2010, about ________ of all Americans had no health insurance
A) 2% B) 5% C) 15% D) 40%
The role of the progressive tax system as an autonomous fiscal stabilizer requires that the budget
a. should require actual deficits be equal to zero on average. b. should go into a surplus at appropriate points in the business cycle. c. cannot have a structural deficit component. d. Both a and b e. None of the above
The adjustment of the ____________ is the rationing mechanism in market economies.
A. price B. competition C. government D. None of the choices are correct.