Which of the following is evidence that consumption depends on total wealth,and not just on current income?
A)People save very little for their retirement.
B)The pre-announced phased-in tax cuts of 1981-83 caused little change in consumption in 1981.
C)A drop in consumer confidence, with unchanged current income, often causes total consumption spending to fall.
D)all of the above
E) none of the above

Question

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The Answer of Which of the following is evidence that consumption depends on total wealth,and not just on current income?
A)People save very little for their retirement.
B)The pre-announced phased-in tax cuts of 1981-83 caused little change in consumption in 1981.
C)A drop in consumer confidence, with unchanged current income, often causes total consumption spending to fall.
D)all of the above
E) none of the above

Which of the Following Is Evidence That Consumption Depends on Total