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Aggregate Income
The total income earned by all factors of production in an economy, including wages, rents, interest, and profits, over a specific period.
Aggregate Consumption
The total spending by households on goods and services within an economy during a specific period.
Consumption Function
A macroeconomic term that describes the relationship between total consumption and gross national income.
Aggregate Income
Aggregate Income is the total income earned by all individuals or entities in the economy within a specific period.
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