What would be their logical response in the given situation, Microeconomics

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What would be their logical response in the given situation

Problem

Retirement Savings and the Decline in the Stock Market. When the stock market fell sharply in 2007 and 2008, many people near retirement found that their savings for retirement were dramatically reduced. What would be their logical response in this situation? Is this consistent with the wealth effect?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: What would be their logical response in the given situation

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