a) disposable income
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9 Terms
1
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disposable income is…
the income left over after direct taxes have been paid and transfer payments have been received
2
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when direct taxes increase, disposable income…
decreases
3
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when transfer payments increase, disposable income…
increases
4
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when disposable income decreases, consumption…
decreases
5
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when disposable income increases, consumption
increases
6
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when disposable income is saved, consumption…
decreases
7
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when disposable income is spent, consumption
increases
8
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when there is economic decline, savings…
increase
9
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when there is economic growth, savings…
decrease
Flashcards (36)