In the Life-Cycle Hypothesis,people Are Assumed to Have a Consumption

question 70

Multiple Choice

In the life-cycle hypothesis,people are assumed to have a consumption pattern that leads them to dissave

• A)at no point in their life.
• B)in the working years up to retirement.
• C)in their retirement years.
• D)in every year of their life.

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Definitions:

Mutually Exclusive

Conditions or events that cannot occur simultaneously or be true at the same time.

Elastic Clause

A provision in the U.S. Constitution that grants Congress the power to pass all laws necessary and proper for carrying out its enumerated powers, also known as the Necessary and Proper Clause.

Article I

This is the first section of the U.S. Constitution, which establishes the legislative branch of the federal government, the Congress.

Enumerated Powers

Specific powers granted to Congress as outlined in the United States Constitution.