People Smooth Out Consumption Over Time

question 31

Multiple Choice

People smooth out consumption over time:

• A)because they become wiser as they age.
• B)because older people require less consumption.
• C)because utility of consumption increases with age.
• D)to raise their level of utility.

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Definitions:

Jane Addams

An American social reformer and Nobel Peace Prize laureate, known for co-founding the Hull House in Chicago, which provided social and educational opportunities for working-class people.

Julia Lathrop

An American social reformer in the late 19th and early 20th centuries, known for her work in improving the welfare of children, women, and the mentally ill.

Progressive Era

A period of widespread social activism and political reform across the United States from the 1890s to the 1920s, aimed at eliminating problems caused by industrialization, urbanization, immigration, and corruption.

Public Arena

A space where societal issues are discussed and debated, including physical venues like town halls or metaphorical areas like media platforms.