In a One-Period Economy, the Expression for the Budget Constraint $\pi$

question 38

Multiple Choice

In a one-period economy, the expression for the budget constraint is

• A) C = w(N^s + l) + \(\pi\) - T.
• B) C = wN^s + \(\pi\) - T.
• C) C = w(h + l) + \(\pi\) - T.
• D) C = wl = wh + \(\pi\) - T.
• E) C = w(N^s + l) + \(\pi\) + T.

---

Definitions:

Repression

A defense mechanism where distressing thoughts and feelings are unconsciously blocked from conscious awareness.

Pervasive

Having the tendency to spread widely throughout an area or group of people.

Latency Period

A phase in psychosexual development, occurring from about age 6 to puberty, characterized by a decrease in sexual interests and activities.

Psychosexual Stages

Psychosexual Stages is a Freudian theory describing how personality development occurs in five stages (oral, anal, phallic, latency, and genital) associated with erogenous zones.