Examlex
What is a recession?
Aggregate Income
The total income earned by all individuals and entities in an economy, including wages, rents, and profit.
Statistically Significant
A determination that a result from data analysis is unlikely to have occurred by chance, indicating a meaningful difference or relationship.
Consumption Function
An economic formula representing the relationship between total consumption and gross national income, depicting how income changes affect spending levels.
Aggregate Income
The total income received by all factors of production in an economy during a given period, including wages, rents, and profits.
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