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When we say a child's thinking is less abstract than an adult's, we mean that
Disposable Income
The financial pot allocated for households to manage their savings and expenditures after income tax deductions.
Autonomous Consumption
The level of consumption spending that occurs when income is zero, representing the expenditures that consumers must make even when they have no income.
Disposable Income
Households' budget for spending and savings after the necessary income taxes have been deducted.
Induced Consumption
Consumer spending that increases as disposable income rises, and decreases as income falls.
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