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On what grounds did Michael Edelstein and Robert Higgs suggest that the overall setback of economic growth as a result of defense spending is small?
Consumption
Consumption refers to the use of goods and services by households. It is a primary component of economic activity, measuring the total value of all goods and services consumed over a specific time period.
Disposable Income
The total amount of money available to an individual or household for spending and saving after income taxes have been deducted.
Disposable Income
The income left over for personal spending after direct taxes have been subtracted from an individual’s gross income.
Consumption
The use of goods and services by households or individuals, typically relating to spending on products and services.
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