Gritty beats pretty shirtSpending – the transfer of ownership of money from one person or Gritty beats pretty shirtto another for a purpose. The purpose would be to acquire goods, services, labor or any other desired outcome. Spending is defined in the most general way possible to include all transfers of ownership of money for a purpose.Income – the money the recipients of the spending receive, therefore income equals spending. Obviously we are talking about gross income here.
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