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According to the permanent income hypothesis _____ a)MPC out of permanent income can be higher or lower than MPC out of transitory income depending on the tax policies of the government

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According to the permanent income hypothesis _____

a)MPC out of permanent income can be higher or lower than MPC out of transitory income depending on the tax policies of the government.

b)MPC out of permanent income is higher than MPC out of transitory income.

c)MPC out of permanent income is equal to MPC out of transitory income.

d)MPC out of permanent income is less than MPC out of transitory income