Which of the Following Individuals Is Responsible for Developing the Permanent

question 59

Multiple Choice

Which of the following individuals is responsible for developing the permanent income theory of consumption?

• A)Friedman
• B)Modigliani
• C)Keynes
• D)Lucas

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Definitions:

Middle Passage

The sea voyage that transported enslaved Africans across the Atlantic Ocean to the Americas as part of the triangular slave trade, noted for its brutal conditions.

Enslaved Africans

Individuals from Africa who were forcibly taken from their homeland, sold into bondage, and subjected to slavery, primarily in the Americas and the Caribbean.

Caribbean

A geographic region consisting of the Caribbean Sea, its islands, and the surrounding coasts, known for its distinct cultural, historical, and political identities.

Influx

An arrival or entry of large numbers of people or things.