Consumption Smoothing Refers to

question 55

Multiple Choice

Consumption smoothing refers to

• A)the tendency of consumers to seek an income path over time that is smoother than consumption.
• B)balance savings with consumption over time.
• C)the tendency of all consumers to choose the same amount of current consumption.
• D)the tendency of consumers to seek a consumption path over time that is smoother than income.
• E)consumer's concerns about going heavily into debt.

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Definitions:

Job Specification

A detailed description of the qualifications, skills, experience, and duties required for a specific job position.

Acronym KSA

Knowledge, Skills, and Abilities; a commonly used term, especially in job descriptions, to refer to the essential elements required to perform a task.

Bureau of Labor Statistics

A U.S. government agency that collects, processes, analyzes, and disseminates essential statistical data on labor economics.

Average American

A term often used to describe what is considered typical for a person living in the United States in terms of behavior, beliefs, and economic status.