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Millennials have preferences for consumption that differ significantly from those of earlier generations because:
(a) they are anti-materialists and want less stuff.
(b) they are less well-off than members of earlier generations were when they were young.
(c) they have lower earnings, fewer assets, and less wealth.
(d) answer choices (b) and (c) are correct.

According to this article, economists with the Federal Reserve agree with answer (d).

1. What did the Fed report say about “car-lessness?”
2. What do the Fed findings say about housing?
3. What do the Fed findings say about political views?
4. What was the most interesting thing you learned in this article?

Levitz, E. (2018). Millennials Aren’t Post-Consumerist, They’re Just Poor, Fed Finds. New York Magazine, Dec. 6 (Retrievable online at