Which of the following statements is supported by the findings of Shorrocks, Davies, and Lluberas (2014)?
A) The composition of wealth does not vary substantially from poor through middle- to high-income countries.
B) The relative importance of non-financial assets is greater in high-income countries.
C) As development proceeds, the ratio of financial to non-financial assets increases.
D) Debt is relatively more important in poorer countries than wealthier ones.
E) Indebtedness has a consistent effect across countries.

Question

Quizplus · Accepted Answer

Shorrocks, Davies, and Lluberas (2014) found that as countries develop economically, the proportion of financial assets to non-financial assets increases, indicating a shift in the composition of wealth towards more financial assets in wealthier, more developed countries.

Which of the Following Statements Is Supported by the Findings