The economist's definition of income is expressed mathematically as the sum of one's consumption during a period plus the change in one's net worth between the beginning and end of the period.Consumption and the change in net worth are measured using market values on an accrual basis.

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This is the correct definition of income according to economists. It includes both consumption and changes in net worth, both of which are measured using market values on an accrual basis.

The Economist's Definition of Income Is Expressed Mathematically as the Sum