A person is calculating his permanent income by adaptive expectations. Last year's permanent income was 38,000, this year's actual income is 44,000, and j = 0.25. This year his permanent income is
A) 39,500.
B) 42,500.
C) 59,000.
D) 20,500
A
Economics
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The two words most often used by economists are
a. prices and quantities. b. resources and allocation. c. supply and demand. d. efficiency and equity.
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In 1890, the United States Congress
A. passed the Sherman Antitrust Act. B. created the Federal Trade Commission. C. created the Interstate Commerce Commission. D. passed the Rule of Reason Act.
Economics