When income is defined as that amount which can be spent while keeping capital intact, then which of the following are correct?

Question

Quizplus · Accepted Answer

This definition of income is associated with John Hicks, a British economist, who proposed that income should be defined as the maximum amount that an individual can consume during a period without reducing their ability to consume the same amount in future periods. This concept emphasizes maintaining capital intact to ensure sustainable consumption over time.

When Income Is Defined as That Amount Which Can Be