In mid 2020 the savings rate in Australia reached a 30 year high of 20% as individuals became concerned that the COVID19 pandemic would lead to a recession in Australia. In 2019 the savings rate in Australia stood at 5%. This increase in the savings rate reflects: a. A rise in precautionary savings because people were having less children during the COVID19 pandemic. b. A rise in precautionary savings which reflected uncertainty about the effects of the COVID19 pandemic. c. None of the other answers are correct d. A rise in life cycle savings as people were worried about funding their retirement following a fall in bond market returns during the COVID19 pandemic. e. A rise in the bequests as a result of people dying from COVID19