Multiple Choice
The Hicks family owns a blueberry farm in Maine. The Ward family owns a blueberry farm in Massachusetts. A drought in Massachusetts destroys half of the Ward family's harvest for one year. For the Ward family, their
A) transitory income for the year of the drought likely exceeds their permanent income.
B) permanent income likely exceeds their transitory income for the year of the drought.
C) transitory income likely will be affected but the permanent income of the Hicks family will increase.
D) permanent income likely will be affected but the permanent income of the Hicks family will not be affected.
Correct Answer:
Verified
Correct Answer:
Verified
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