The concept of 'Inter-temporal Choice' in economics deals with:
A. Choice between imports and exports
B. Choice between present and future consumption
C. Choice between different goods at the same time
D. Choice between leisure and work only
Answer: Option B
Solution (By JKSSB Mock Tests)
Inter-temporal choice refers to decisions involving trade-offs among costs and benefits occurring at different points in time, such as saving versus present consumption.
Explanation:
The FRBM Act aims to ensure fiscal discipline, inter-generational equity in fiscal management and long-term macroeconomic stability by setting targets for deficit reduction.
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