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Explain the waterfall method of software development. Discuss how it is different from the iterative method.
Consumption Function
An economic formula representing the functional relationship between total consumption and gross national income.
Aggregate Income
The total income earned by all individuals and entities within an economy.
Aggregate Consumption
The total amount of goods and services consumed in an economy within a given period.
Consumption Function
A mathematical expression describing the association between gross national income and the total amount spent on consumption.
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