Consider the following equation for household consumption expenditure: Consmptn= 
0+ 
1Inc + 
2Consmptn-1+ u
Where 'Consmptn' measures the monthly consumption expenditure of a household, 'Inc' measures household income and 'Consmptn-1' is the consumption expenditure in the previous month. Consmptn-1 is a _____ variable.
Definitions:
Bond Discount
The discrepancy between a bond's nominal value and its selling price that occurs when the bond is retailed at a price lower than its nominal value.
Debt Extinguishment
Refers to the process of permanently removing a debt obligation through payment or other financial arrangements.
Maturity Value
The amount payable to an investor at the end of a bond's term or an investment's life.
Accrued Interest
The interest that has accumulated over a period of time but has not yet been paid by the borrower.
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