The 'permanent income hypothesis' was proposed by: MCQ with Answer and Explanation

Explanation:
In a planned (command) economy, the central authority plans and allocates resources according to predetermined objectives rather than market signals.

Explanation:
Multiplier-accelerator interaction explains cyclical fluctuations in income.

Explanation:
Mental accounting describes the cognitive processes whereby individuals separate their wealth into non-fungible mental accounts, leading to behaviour that violates the principle of fungibility assumed in standard theory.