Which of the Following Statements Is False

question 52

Multiple Choice

Which of the following statements is false?

• A) Two individuals who have the same current income but different permanent incomes are likely to make very similar savings decisions.
• B) An individual with a relatively low current income but a high permanent income might save little or nothing now, expecting to save for retirement and for bequests later.
• C) A person with a relatively low income now with no expectation of higher income later might try to save some now to provide for retirement or bequests later.
• D) A decision to save a certain amount determines how much will be available for future consumption.

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Definitions:

Urea

An organic compound and waste product produced in the liver, resulting from the metabolism of proteins, excreted in the urine.

Amphibians

A class of cold-blooded vertebrates that includes frogs, toads, salamanders, and newts, characterized by their ability to live both in water and on land.

Mammals

Warm-blooded vertebrates characterized by the presence of mammary glands, which females use to feed their young, and usually hair or fur on their bodies.

Aquatic Animals

Animals that live in water for most or all of their lives, including fish, amphibians, and various invertebrates, adapted to their liquid environment in various ways.