Which of the following is a reason that consumption depends on current income, and not just on total wealth?

A) Banks will not always lend money to those who want to consume more than their income.
B) The anticipation of future financial distress makes some people reluctant to borrow.
C) Low income people may prefer to postpone some consumption until later years, when their incomes are higher.
D) all of the above
E) none of the above

D