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John Cabot explored the New England coastline under a license from the king of
Total Consumption
The aggregate amount of goods and services consumed in an economy, including individual and governmental consumption.
Saving
The portion of income not spent on current expenditures or taxes, often put aside for future use or investment.
Induced Consumption
Consumer spending that varies with income levels; as income rises, consumption increases, and as income falls, consumption decreases.
Disposable Income
The sum of money available to a person for spending and saving after they have paid their taxes.
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