Examlex
Claude's deductions from AGI exceed the standard deduction allowed for the current year.Under these circumstances, Claude cannot claim the standard deduction.
Theory of the Leisure Class
A socio-economic theory presented by Thorstein Veblen, which critiques consumerism and status-driven consumption, emphasizing the social uses of wealth and leisure to display status rather than for utility.
Theory of the Multiplier
An economic theory suggesting that an initial increase in spending leads to increased income and consumption, further magnifying economic activity.
Disposable Income
Disposable income for households to spend or save after accounting for income taxes.
Autonomous Consumption
The level of consumption spending that occurs when income is zero, representing the expenditures necessary for basic needs.
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