According to Friedman, people behave differently with respect to the different kinds of incomes they earn. For example, the MPC in 2002 is associated with their _________ income earned in 2000 . The difference between the income earned in 2001, and that income in 2002 is called ___________ income

a. relative; absolute
b. absolute; relative
c. permanent; transitory
d. transitory; permanent
e. transitory; transitory


C

Economics

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Economics