The Life-Cycle Theory of Consumption Can Be Summarized as Follows

Multiple Choice

The life-cycle theory of consumption can be summarized as follows:

A) retired people need less so they can save more than working people
B) people want instant gratification and seldom worry about the future
C) people always tend to consume almost all of their current income
D) people plan their consumption and saving patterns to optimize the lifetime benefit from their disposable income
E) people adjust their current consumption constantly to keep a stable saving pattern over their lifetime