According to the life-cycle hypothesis, as people grow older ________
A) their wealth grows before and after retirement
B) their wealth declines before and after retirement
C) their wealth grows before retirement, then declines after retirement
D) their wealth falls before retirement, then rises after retirement
C
You might also like to view...
Kathryn chooses to go to college full-time rather than to work. Kathryn: a. is not part of the labor force
b. is part of the labor force and what economists call a discouraged worker. c. is part of the labor force, but not actively seeking work. d. is considered employed.
During the 1980s and 1990s, the Federal Reserve's monetary policy focused primarily on
a. keeping short-term interest rates low in order to stimulate real output and economic growth. b. a variety of factors, such as unemployment and real GDP, resulting in variable inflation rates throughout this period. c. keeping inflation low and the general price level relatively stable. d. monetary expansion in order to reduce unemployment.