Examlex
Which one of the following statements about the seniority principle is most accurate?
Disposable Income
Funds apportioned to households for saving and spending after the settlement of income taxes.
Consumption
Domestic consumption of goods and services by households.
Autonomous Consumption
The level of consumption that occurs when income is zero, reflecting the basic level of spending necessary to sustain life.
Disposable Income
Available financial resources destined for household spending and saving upon deducting income taxes.
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