In college, most students take out loans in order to finance their education. At the same time,
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In college, most students take out loans in order to finance their education. At the same time, they still spend money on consumer goods and services: food, clothes, books, haircuts, and so on. Use the ideas of consumption smoothing and the permanent income hypothesis to explain if this is a smart decision or not.
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Related Book For
Principles Of Economics
ISBN: 9781319330156,9781319419769
2nd Edition
Authors: Betsey Stevenson, Justin Wolfers
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