During 2016, Victorʹs consumption equals $30,000 and the change in his net worth is -$5,000. Victorʹs economic income for 2013 is

A) $5,000.
B) $25,000.
C) $30,000.
D) $35,000.

Economic Income

The total value of all income received by individuals or corporations, including both realized and unrealized gains.

Net Worth

The total value of all assets owned by an individual or corporation, minus the total value of all liabilities owed at a point in time.

Consumption

Consumption denotes the use of goods and services by households, representing the final purchase of goods and services to satisfy wants and needs.