News tagged with income

Related topics: earnings

Education, not income, the best predictor of a long life

Rising income and the subsequent improved standards of living have long been thought to be the most important factors contributing to a long and healthy life. However, new research from Wolfgang Lutz and Endale Kebede, from ...

Apr 16, 2018
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Income

Income is the consumption and savings opportunity gained by an entity within a specified time frame, which is generally expressed in monetary terms. However, for households and individuals, "income is the sum of all the wages, salaries, profits, interests payments, rents and other forms of earnings received... in a given period of time." For firms, income generally refers to net-profit: what remains of revenue after expenses have been subtracted. In the field of public economics, it may refer to the accumulation of both monetary and non-monetary consumption ability, the former being used as a proxy for total income.

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