Pietro is 40 years old and is laid off from his job at the paper plant and borrows from his savings for 8 months until he finds a new job. Pietro's Group of answer choices transitory income likely exceeds his permanent income for that year. borrowing is representative of a normal economic life cycle. permanent income is largely unaffected by this one time change to his income. economic mobility during this year is highly unusual, as US workers tend to stay in a particular income class