Economists define disposable income (Yd )
What will be an ideal response?
as the income available to consumers after
paying taxes and receiving transfers:
Yd
= Y - T + TR
where T is the total of taxes paid in the economy and TR is the total of transfer payments
from governments to individuals.
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In the United States, ________ percent of all firms are sole proprietorships
A) 4 B) 14 C) 72 D) 82
Refer to the figure shown, which represents the production possibilities frontiers for Countries A and B. Considering both country's production possibilities frontiers, we can conclude that Country B will specialize in:
A. trucks, and be willing to accept no fewer than 3 cars for each truck.
B. cars, and be willing to give no more than 3 cars for each truck.
C. trucks, and be willing to accept no more than 3 cars for each truck.
D. cars, and be willing to give no fewer than 3 cars for each truck.
The Federal Reserve has policy instruments that it can aim directly at a specific category of asset price bubble
a. True b. False Indicate whether the statement is true or false
If income tax rates are increased in an attempt to balance the federal budget, we should expect to see
a. an increase in consumption and a decrease in GDP. b. an increase in consumption and an increase in GDP. c. a decrease in consumption and a decrease in GDP. d. a decrease in consumption and an increase in GDP.