Income which does not fluctuate in accordance with the general price level. Those whose income is wholly dependent upon the return from bonds, annuities, or pensions are said to have a fixed income. While business incomes and wages tend to rise and fall with the general price level, fixed incomes do not. The fixed-income class also includes workers whose salaries tend to resist adjustment to changes in the general price level. A period of low prices is beneficial and a period of high prices disadvantageous to those having a fixed income.
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