Which of the Following Summarize the Findings in the Consumption

Multiple Choice

Which of the following summarize the findings in the consumption expenditure literature?
i. The permanent income hypothesis provides a useful description of household consumption behavior.
ii. Households do not engage in precautionary saving.
iii. The marginal propensity to consume out of temporary income is high.

A) i
B) i and iii
C) ii and iii
D) iii
E) ii