In the life-cycle hypothesis of consumption two individuals, Ask an Expert

Economics

In the life-cycle hypothesis of consumption, two individuals with the same age, tastes, family composition, and income will

1) consume the same amount.

2) each have positive saving ratios.

3) each consume less the greater is their accumulated wealth.

4) consume differing amounts if their wealth differs.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91870496

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