#RFB-11000129Reading: Fill in the BlanksAcademic,CoreHard
People Save More
Official Question Material
Prep: Varies
Friedman showed that, while people do save more when they earn more, it is [blank] to spend later. Those in work save [blank] a [blank] of sickness, unemployment, or old age - but because the sick, unemployed, and elderly [blank] their savings, overall [blank] does not fall as people get richer.
Sample Answer & Audio Transcript
Friedman showed that, while people do save more when they earn more, it is only to spend later. Those in work save against a time of sickness, unemployment, or old age - but because the sick, unemployed, and elderly spend their savings, overall consumption does not fall as people get richer.
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