I Know The General Concept Of An Income Effect But I Am Not Sure About The Effec

I know the general concept of an income effect.But, i am not sure about the effect with ONE-TIME income increase.Does recieving ONE-TIME tax refund of $2000 makes an income effect?

A onetime tax refund of $ 2000 does not make an income effect because this cannot be classifiedas income. It is refund and does not arise from a business deal. It is money that you are getting…

Prof. Angela

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