4. Which of the following examples reflects the permanent-income hypothesis? a. A earns an unexpected, one-time $5000 bonus, raises savings by $500; B receives an unexpected, annual raise of $5000 (that does not affect future raises), raises savings by $2000 b. A faces an unexpected, one-time $5000 fine, lowers savings by $1000; B receives an unexpected, $5000 salary reduction (that does not affect future raises), lowers savings by $3000 c. A faces an unexpected, one-time $5000 fine, lowers savings by $3000; B receives an unexpected, $5000 salary reduction (that does not affect future raises), lowers savings by $1000 d. none of the above