Questions: Which is true about differences in savings rates across groups of people? Older people and higher-income people tend to save less. Older people and lower-income people tend to save less, Younger people and higher-income people tend to save less. Younger people and lower-income people tend to save less.

The answer is: Younger people and lower-income people tend to save less.

This statement is generally not true. Older people, especially those nearing retirement, often save more to ensure they have enough resources for their retirement years. Higher-income individuals typically have more disposable income, which allows them to save more.

While lower-income individuals may struggle to save due to limited resources, older people often prioritize saving as they prepare for retirement. Therefore, this statement is partially true but not entirely accurate for older people.

Younger people might save less due to lower income levels and a focus on immediate consumption. However, higher-income individuals generally have the capacity to save more, making this statement less accurate.

This statement is generally true. Younger individuals often have lower incomes and may prioritize spending over saving. Additionally, lower-income individuals face financial constraints that can limit their ability to save.