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By 1 July 2008, more than 70 million American households had received tax rebates of $950 on average, as a part of a temporary economic
By 1 July 2008, more than 70 million American households had received tax rebates of $950 on average, as a part of a temporary economic stimulus policy. According to Friedman's permanent income model (and holding all other things equal), aggregate consumption in 2008 Group of answer choices should have increased by approximately the amount of the tax rebate should have not changed, as the permanent income of households is not affected should have increased by more than the tax rebate should have increased by significantly less than the amount of the tax rebate
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