Individuals receive income and pay taxes over the course of a year. The difference between the income they receive and the taxes they pay is referred to as
A. net national income.
B. per capita real GDP.
C. net domestic product.
D. disposable personal income.
Answer: D
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Which of the following is NOT included in the M2 definition of money?
A) currency held by banks B) money market mutual fund balances C) savings deposits D) checkable deposits
In the long-run equilibrium in monopolistic competition, price equals marginal cost
Indicate whether the statement is true or false
Which of the following statements is a defining feature of a corporation?
a. The owners of a corporation face unlimited liability on debts. b. A corporation owns and operates units only in foreign countries. c. A corporation is created by a verbal agreement. d. A corporation that is based on a verbal agreement is also recognized by State law. e. A corporation has a legal identity that is separate from that of its owners.
_____ is the change in total utility that occurs because one more unit of a good is consumed or acquired
a. Total utility b. Marginal utility c. Disutility d. Diminishing marginal utility e. Expected utility