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How does the permanent income hypothesis explain the difference in consumption during peak and trough of business cycles?a)Consumption is higher during the peak and lower during the trough due to changes in permanent income.b)Consumption is lower during the peak and higher during the trough due to changes in transitory income.c)Consumption is higher during the peak and lower during the trough due to changes in transitory income.d)Consumption remains constant during both peak and trough of business cycles.Correct answer is option 'A'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about How does the permanent income hypothesis explain the difference in consumption during peak and trough of business cycles?a)Consumption is higher during the peak and lower during the trough due to changes in permanent income.b)Consumption is lower during the peak and higher during the trough due to changes in transitory income.c)Consumption is higher during the peak and lower during the trough due to changes in transitory income.d)Consumption remains constant during both peak and trough of business cycles.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for How does the permanent income hypothesis explain the difference in consumption during peak and trough of business cycles?a)Consumption is higher during the peak and lower during the trough due to changes in permanent income.b)Consumption is lower during the peak and higher during the trough due to changes in transitory income.c)Consumption is higher during the peak and lower during the trough due to changes in transitory income.d)Consumption remains constant during both peak and trough of business cycles.Correct answer is option 'A'. Can you explain this answer?.

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