In the two-period model, which equation represents the consumer's lifetime budget constraint? +c' 1+r * +y' – – t' 1+r 1+r c' y' t' c + 1+r = y +- 1+r :-t - 1+r c(1+r) + c' = y(1+ r) + y' – t(1+r) t' | c + c' = y + y' – t – t'

In the two-period model, which equation represents the consumer's lifetime budget constraint? +c' 1+r * +y' – – t' 1+r 1+r c' y' t' c + 1+r = y +- 1+r :-t - 1+r c(1+r) + c' = y(1+ r) + y' – t(1+r) t' | c + c' = y + y' – t – t'

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

In the two-period model, which equation represents the consumer's lifetime budget
constraint?
' = +y' --t'
C
- +
+ y'
1+r
1+r
1+r
t'
+=y+ -t
= y +
1+r
-
1+r
1+r
c(1 + r) + c' = y(1+r)+y' – t(1 +r) – t'
c + c' = y + y' – t – t'
%3D

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