A young boy is saving money for a baseball bat but is tempted to buy an ice cream cone.If the boy successfully resists buying ice cream and continues to save for the bat:
A) the boy has exchanged high time preferences for low.
B) the boy has exchanged low time preferences for high.
C) the boy has engaged in consumption smoothing.
D) the boy has increased his consumption variance.
E) the boy has increased his wealth.
Correct Answer:
Verified
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