The permanent-income hypothesis can reconcile the cross-section and time-series consumption studies by incorporating the reasonable assumption that at any one time many people are poor because they have ________ transitory income, causing them to

The fall in the money multiplier and money supply during the Great Depression

a. suggests that the public but not banks can be a major participant in the money supply process. b. implies that banks but not the public can be a major participant in the money supply process. c. means that neither the banks nor the public were involved in the money supply process. d. illustrates that both the public and banks can be major players in the money supply process.

Which of the following is a feature of an M-Form organization?

a. divisions have difficulty responding to changes in customer demand b. it is easier to maintain customer relationships c. coordination across divisions is simple and does not take much management time d. evaluating employees is easier because managers typically are similarly trained