An estimate of a household's long-run average income is called ...

[magmichele12]

An estimate of a household's long-run average income is called permanent income.
 
  Indicate whether the statement is true or false

Question 2

It is estimated that, on the average and without taking account of skill differentials, union wages are
 
  A) equal to nonunion wages.
  B) less than nonunion wages.
  C) 66 percent higher than nonunion wages.
  D) 100 percent higher than nonunion wages.
  E) 30 percent higher than nonunion wages.

[Expo]

Answer to Question 1

TRUE

Answer to Question 2

E