Consider Consumption in Two Periods $c _ { 1 }$ And $c _ { 2 }$

True/False

Consider consumption in two periods, $c _ { 1 }$ and $c _ { 2 }$ . Consumption smoothing implies people prefer to consume $\bar { c } = ( 1 / 2 ) \left( c _ { 1 } + c _ { 2 } \right)$ if $\beta = 1$ and R = 0.