The couple's total income of $45,000 a year or so, for example, equals the average for farms with sales of $100,000 to $250,000.

It follows that disposable income minus saving equals consumption.

The income from the estate would not have equalled the cost to maintain its day-to-day running.

By 2005, the gap between profit sources had widened, with the average income at $81,420 and off-farm income equaling $66,782.

LEAD: Latest quarter's net income equaled less than 1 cent a share.

This income equals the total spending on the economy's output of goods and services; thus, the nation's income and output are the same.

"And the reason is that their disposable income equals their spendable income."

Net income in the latest quarter equaled profit from continuing operations and stood at $362 million, or 87 cents a share.

In Figure 1.1 the reader will notice that income equals expenditure in the period under consideration.

Spending equals income equals output which creates employment.