According to the life-cycle hypothesis ________
A) households consume on the basis of their current income and liabilities
B) household consumption as a percentage of income varies over one's lifetime
C) current income is a function of future income
D) cycling to work everyday allows one to live a longer life
B
Economics
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What happens when wages are set above the equilibrium level by law?
What will be an ideal response?
Economics
If a country sets a pegged exchange rate that is below the equilibrium exchange rate, how can the country maintain the peg?
A) by selling surplus domestic currency at the pegged rate B) by purchasing surplus domestic currency at the pegged rate C) by decreasing the pegged exchange rate D) by purchasing surplus domestic currency at the equilibrium exchange rate
Economics