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     EduGorilla 
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    Consider the following statements :

    I. The Life Cycle Hypothesis(LCH) of consumption emphasises that income follows a regular pattern over a person’s lifetime

    II. The Permanent Income Hypothesis(PIH) emphasises that people 
    experience random and temporary changes in their incomes from year to year 

    Which of the statements given above is/are correct ?

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    Options :-

    1. I only

    2. II only

    3. Both I and II

    4. Neither I nor II

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Reply To: Consider the following statements :I. The Life Cycle Hypothesis(LCH) of consumption emphasises that ….
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