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Hello, I am having hard time to answer the following questions; QUESTION 12 According to the life-cycle model, richer economies save about the same fraction
Hello,
I am having hard time to answer the following questions;
QUESTION 12
According to the life-cycle model,
- richer economies save about the same fraction of disposable income as do poor countries
- people spend much of their income when young, and borrow to finance retirement when they are older
- rich countries save a higher fraction of disposable income than do poor countries
- richer economies save less than do poor economies
- the saving rate in all nations increases over time
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