Question

Which of the following expressions illustrates the point that lifetime consumption (over a two-period framework) should equal lifetime earnings? Assume that the rate of interest is zero. C denotes consumption,

W denotes wages, H denotes hours, and thesubscript denotes the periods. C1*C2 -WIH1 + W2H2 C1*C2-W1 (H1+ H2) C1+ C2- WIH1+ W2H2 C1 WIH1 - C2 W2H2 C1/C2 - WIH1 + W2H2

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