According to the permanent income hypothesis, if a person received a windfall of $100,000, he would spend ___ that year.
a. some of it
b. most of it
c. nearly all of it
d. all of it
Answer: A
According to the permanent income hypothesis, if a person received a windfall of $100,000, he would spend ___ that year.
a. some of it
b. most of it
c. nearly all of it
d. all of it