Question

It is generally recognized that the spending habits of individuals changes over their lives. In general, young adults tend to spend__________ than they earn, while older adults tend to spend_________. To accommodate their spending habits, young adults tend to rely on funds raised from__________. Retired adults, in contrast, tend to rely on_________ to cover the frequent shortage between their current expenditures and their current incomes.

Answer 1

1. more

2. less

3. borrowing

4. past savings

Step-by-step explanation:

It is generally recognized that the spending habits of individuals changes over their lives. In general, young adults tend to spend more than they earn, while older adults tend to spend less. To accommodate their spending habits, young adults tend to rely on funds raised from borrowing . Retired adults, in contrast, tend to rely on past savings to cover the frequent shortage between their current expenditures and their current incomes.