Hicks' Notion of Income Is That

Multiple Choice

Hicks' notion of income is that:

A) An individual's income is what they consume.
B) An individual's income is the minimum value that they can consume during a period and still be as well off at the end as they were in the beginning.
C) An individual's income is the difference between their revenues and expenses.
D) An individual's income is the maximum value that they can consume during a period and still be as well off at the end as they were in the beginning.