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measures the change in price of consumer goods and services. Doesn't include income levels, taxation, social welfare payments etc.
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Explore More Questions
- What happens to consumption spending and saving when disposable income increases? decreases?
- The real domestic output would decrease and the price level would rise
- consumption, investment, government purchases, net exports (value of a country's exports minus imports), aggregate expenditure (total spending of all goods/services in the year)