Question

N economic terminology, personal disposable income, or income after taxes, can be either

Answer 1

The correct answer is option B.

In economic​ terminology, personal disposable​ income, or income after​ taxes, can be either consumed or saved.

What is income?

• Income is the money that an individual or organization receives in return for their services or goods.
• Depending on the context—such as taxation, financial accounting, or economic analysis—income may have a variety of definitions.
• For the majority of people, their total earnings include their wages and salaries, investment returns, pension payments, and other receipts.
• For businesses, income refers to the money made from selling goods and services as well as any interest or dividends paid on the company's cash holdings and reserves.
• Different definitions and methods of calculating income are used by economists.
• Their definition of income will be in line with the goal of their research, regardless of whether it involves earnings, savings, consumption, production, public finance, capital investment, or other relevant issues and subtopics.

Although a macroeconomic measure of income is important for sociological and policy research, people tend to be more concerned with their own personal and business income.

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