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g In Franco Modigliani's lifecycle hypothesis, the representative agent is assumed to have a real income that O rises steadily over her life O gradually

g In Franco Modigliani's lifecycle hypothesis, the representative agent is assumed to have a real income that O rises steadily over her life O gradually declines over her life starts low, rises to a peak, then declines O starts high, declines to a trough, then Mises

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