Both the permanent-income and life-cycle hypotheses make the assumption that people prefer a consumption pattern in the long run, and so have a short-run MPC out of sudden changes in income

A) smooth, low
B) smooth, high
C) jagged, low
D) jagged, high

Economics

Contract negotiations between an employer and a labor union representing workers are referred to as:

A) collective bargaining. B) contractualization of employment. C) treaties. D) crowding out.

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Economics

Define social overhead capital

What will be an ideal response?

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Economics

Both the permanent-income and life-cycle hypotheses make the assumption that people prefer a ________ consumption pattern in the long run, and so have a ________ short-run MPC out of sudden changes in income