The Consumer's Lifetime Budget Constraint States That

question 38

Multiple Choice

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.

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Definitions:

Prader-Willi Syndrome

A genetic disorder that causes obesity, intellectual disability, and shortness in height among other symptoms.

Angelman Syndrome

A genetic disorder causing developmental disabilities, seizures, unique facial appearances, and frequent laughter or smiling.

Chromosome 15

One of the 23 pairs of human chromosomes, carrying genes that can be involved in various genetic disorders and characteristics.

Fragile X Syndrome

A human genetic disorder caused by a fragile site that occurs near the tip on the X chromosome; effects range from mild learning disabilities to severe intellectual disability and hyperactivity.