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Salim estimates his long-term wealth to be equal to approximately $6,000 a month, so he spends $5,500 a month. In this case, Salim is spending

Salim estimates his long-term wealth to be equal to approximately $6,000 a month, so he spends $5,500 a month. In this case, Salim is spending according to: consumption smoothing. the marginal propensity to consume. the permanent income hypothesis. the Rational Rule for Consumers

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