According to the Life-Cycle Model, the Short-Run Consumption Function Will

Multiple Choice

According to the life-cycle model, the short-run consumption function will not continue to hold in the long run because:

A) increases in wealth shift the short-run function upward.
B) decreases in the average propensity to consume shift the short-run function downward.
C) increases in income shift the short-run function upward.
D) increases in the average life span shift the short-run function upward.