The Life-Cycle Model

question 78

Multiple Choice

The life-cycle model

• A)is an explanation of consumption and saving over an individual's lifetime
• B)explains how individuals' longevity is tied to economic conditions
• C)explains how employment varies over a person's lifetime
• D)is an attempt to explain why some individuals save and others do not
• E)is an attempt to explain why some individuals save and others consume

---

Definitions:

Plaintiff

The party who initiates a lawsuit in civil court proceedings.

Defendant

A person or entity against whom a lawsuit is filed in a court of law.

Reasonable Person Test

A legal standard used to determine what a typical, prudent person would have done in similar circumstances, applied in various legal contexts.

Surety Bond

Insurance arranged in case a party to a contract fails to perform.