The Portion of Income That Is Not Immediately Spent on Consumption

question 62

Multiple Choice

The portion of income that is not immediately spent on consumption of goods and services is:

• A) savings.
• B) consumption spending.
• C) investment.
• D) loanable funds.

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Definitions:

Outliers

Data points that differ significantly from the majority of a data set, often indicating a measurement error or a different population.

Piecewise Function

A function in mathematics composed of several smaller functions, with each one being relevant to a specific range within the larger function's overall domain.

Comprehensive Insurance

A type of insurance that covers the repair or replacement of parts of an insured car damaged by vandalism, fire, flood, wind, earthquakes, missiles, falling objects, riots, tree sprays, and other disasters; it also covers if the car is stolen.

Collision Insurance

A type of insurance that pays for the repair or replacement of an insured car if it is damaged in a collision with another vehicle or object, or if it overturns, no matter who is at fault. This type of insurance is usually required if there is a loan on the car.