Examlex
Steve just computed the present value of a $10,000 bonus he will receive next year. The interest rate he used in his computation is referred to as the:
Price
The financial value anticipated, necessitated, or offered in return for a service or good.
Income
Money received on a regular basis from work, property, business, investment, or welfare.
Utility Function
A tool used in economics to represent a consumer's preference structure across different bundles of goods.
Budget Constraint
The limits imposed on household choices by income, wealth, and product prices.
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