A Person Is Calculating His Permanent Income by Adaptive Expectations

question 63

Multiple Choice

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

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