Income No. 3 must be deﬁned as the maximum amount of money which the individual can spend this week, and still be able to spend the same amount in real terms in each ensuing week. (John Hicks)

Income No. 3 must be deﬁned as the maximum amount of money which the individual can spend this week, and still be able to spend the same amount in real terms in each ensuing week.

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able amount income individual maximum money real spend week

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