An intertemporal budget constraint ________
A) describes how much time an individual consumer has to spend their disposable net national product
B) is independent of the real interest rate and wealth of the household
C) divides consumption spending into three categories: spending on durables, non-durables and services
D) describes how much a person can consume today versus tomorrow
D
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Under a gold standard, countries should
A) keep the supply of their domestic money constant. B) keep the supply of their domestic money fixed in proportion to their gold holdings. C) keep the supply of foreign exchange less than their domestic money supply. D) restrict the demand for foreign goods. E) outlaw speculation.
Under the system of "township planning"
a. no one could own land that had not been previously surveyed. b. settlers chose their own plots of land, under the supervision of a county surveyor. c. legal descriptions of property made reference to permanent natural objects. d. gaps between unsettled and settled land were encouraged.