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Which of the following is the best definition of ""consumption smoothing? a. Borrowing in periods of high income and saving in periods of low income to make income less variable than consumption. b. Borrowing in periods of high income and saving in periods of low income to make consumption less variable than income. c. Borrowing in periods of low income and saving in periods of high income to make consumption less variable than income. d. Borrowing in periods of low income and saving in periods of high income to make income less variable than consumption. "
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Which of the following is the best definition of ""consumption smoothing? a. Borrowing in periods of...
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