The amount of income that households keep after paying taxes is
A) personal income. B) personal disposable income.
C) value added income. D) national income.
B
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If input prices are constant, a firm with increasing returns to scale can expect
A) costs to double as output doubles. B) costs to more than double as output doubles. C) costs to go up less than double as output doubles. D) to hire more and more labor for a given amount of capital, since marginal product increases. E) to never reach the point where the marginal product of labor is equal to the wage.
It is costly to purchase a new car every two or three years because
What will be an ideal response?
In a market economy, who or what determines who produces each good and how much is produce
A. the government B. lawyers C. lotteries D. prices
In order for a nation to be able to consume more in the future, it needs to
A. produce less today in aggregate and save the difference between consumption and income. B. consume less today in aggregate and save the difference between consumption and income. C. produce more today in aggregate and save the difference between consumption and production. D. consume more today in aggregate and borrow the difference between consumption and income.