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A baby is in its crib while a swarm of relatives hover, calling the baby's name and making cooing sounds.There is a radio playing in the background and sounds emanate from the television in the living room.All the while, the baby's mother is trying to get the baby's attention to get ready for its feeding.The baby is most likely to attend to the mother's face and voice.This is an example of
Irving Fisher
An American economist known for his work in the field of economics, including the theory of interest and the equation of exchange.
Tax on Consumption
A levy placed on the spending on goods and services, often implemented through sales tax or value-added tax (VAT).
Standard of Living
The level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area.
Saving
The process of setting aside a portion of current income for future use, either by depositing money in a bank or purchasing financial instruments.
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