Economists often view life cycle variation in income as one form of transitory variation in income around

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Economists often view life cycle variation in income as one form of transitory variation in income around people’s life time, or permanent, income. In this sense, how does your current income compare to your permanent income? Do you think your current income accurately reflects your standard of living?

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Principles of economics

ISBN: 978-0538453042

6th Edition

Authors: N. Gregory Mankiw

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