According to Franco Modigliani's life-cycle hypothesis, the principal determinant(s) of consumption is (are):
A) permanent income.
B) income and wealth.
C) transitory income.
D) wealth.

Question

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The Answer of According to Franco Modigliani's life-cycle hypothesis, the principal determinant(s) of consumption is (are):
A) permanent income.
B) income and wealth.
C) transitory income.
D) wealth.

According to Franco Modigliani's Life-Cycle Hypothesis, the Principal Determinant(s) of Consumption