An individual's consumption and saving behavior during a given year,as a result of a planning process that considers his or her lifetime economic situations,is known as the
A) lifetime model.
B) consumption model.
C) life-cycle model.
D) income model.

Question

Quizplus · Accepted Answer

The life-cycle model considers an individual's consumption and saving behavior over their entire lifetime, taking into account changes in income, expenses, and other life events. This model is designed to help individuals plan for retirement and other long-term financial goals.

An Individual's Consumption and Saving Behavior During a Given Year,as