Which of the Following Statements Best Describes What Is Meant

Multiple Choice

Which of the following statements best describes what is meant by a spending balance?

A) People's consumption is described by the consumption function.
B) Consumption and spending are the same, and people's consumption is described by the consumption function.
C) Income and output are the same.
D) Consumption and income are the same, and people's consumption is described by the consumption function.
E) Income and spending are the same, and people's consumption is described by the consumption function.