Permanent income is income that consumers expect to have over the long run.

Name: Permanent income is income that consumers expect to have over the long run.
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Permanent income refers to the income that consumers expect to receive over an extended period of time, typically many years into the future. It is the average level of income that individuals and households expect to earn over their lifetime, and it is used to inform their consumption and savings decisions.

Permanent Income Is Income That Consumers Expect to Have Over