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This is the whole question In our discussion of the permanent income hypothesis we categorized income as either permanent or temporary. Furthermore, we categorized people

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This is the whole question
In our discussion of the permanent income hypothesis we categorized income as either permanent or temporary. Furthermore, we categorized people as either "consumption smoothers" or "hand-to- mouth." c. Using the notation below, with superscripts Sand H for smoothers and hand-to-mouth consumers, write (a) mathematical statement or statements comparing these marginal propensities to consume. You may need to refer to your notes. MPCperm, MPCfemp, MPCerm, MPCHemp d. Next, write a generic linear consumption function (using constants like 'a' for the intercepts) for both groups, i.e., C$ (Yperm, Yremp),c" (Yperm, Yremp) e. Suppose aggregate consumption is the sum of consumption in each group. Let p (

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