Aggregate income is the combined income earned by an entire group of persons. 'Aggregate income' in economics is a broad conceptual term. It may express the proceeds from total output in the economy for producers of that output. One such measure of it is National Income in the National Income and Product Accounts. It is the sum of employees, proprietors, rental, corporate, interest, and government income less the subsidies government pays to any of those groups.
1.Increased aggregate consumption (by a smaller amount) due to increased aggregate income – aggregate consumption increases with increase in aggregate income but the increase in ... will start saving the extra additional income. 2.Division of the increased income between the consumption and saving we have already mentioned that increased income increases consumption and also saving ...
Famous quotes containing the words income and/or aggregate:
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