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Which of the following statements best explains why some people…

  • Question 11b of 25 - Utility and risk-aversion

  • Maximum Attempts: 1
  • Question Type: Multiple Choice
  • Maximum Score: 2
  • Question: Which of the following statements best explains why some people are more committed to saving for retirement than other people?
  • Answers:
  1. Different people look at future risks differently.
  2. Some people don't think they'll need to retire.
  3. Not everyone will need money in order to survive during retirement.
  4. Many people move from one job to another many times before retiring.

The correct answer is: Different people look at future risks differently. The commitment to save for retirement is partly a result of a person's level of risk aversion.

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