According to the Life-Cycle Model

Multiple Choice

According to the life-cycle model,

A) saving increases over the typical individual's lifetime
B) consumption decreases over the life cycle as individual save more for retirement
C) people with high incomes save a smaller fraction of their incomes than do people with low income
D) saving and consumption tend to vary in a systematic way over an individual's lifetime
E) the saving rate for an economy as a whole increases over its lifetime