Disposable income refers to
A. The corporate tax paid from income.
B. Personal income before personal taxes.
C. Personal income after personal taxes.
D. None of the choices are correct.
Answer: C
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The marginal cost curve intersects the average variable cost curve (AVC)
a. only when the AVC is rising b. at the AVC curve's maximum point c. at the AVC curve's minimum point d. only when the AVC is sloping downward e. when the AVC intersects the fixed cost curve
Every time the Fed buys or sells on the open market, the __________ changes
A) budget deficit B) income tax rate C) money supply D) a and b E) a, b, and c
A country that exports less than it imports will:
A. have a current account deficit and a capital account surplus. B. have a current account surplus and a capital account surplus. C. have a current account deficit and a capital account deficit. D. have a current account surplus and a capital account deficit.
Which of the following statements is false?
A. Critics feel that wage and price controls interfere with the price mechanism. B. Sweden has one of the world's most equal distributions of income, but also has a relatively low standard of living. C. In the former Soviet Union, most of the crops were produced on collective farms. D. The price system is based on supply and demand.