a) Disposable income
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6 Terms
define disposable income
the income left over after direct taxes have been paid and transfer payments have been received
state the effect on disposable income when direct taxes increase
state the effect on disposable income when direct taxes decrease
decreases
increases
state the effect on disposable income when transfer payments increase
state the effect on disposable income when transfer payments decrease
increases
decreases
state the effect on consumption when disposable income decreases
state the effect on consumption when disposable income increases
decreases
increases
state the effect on consumption when disposable income is saved
state the effect on consumption when disposable income is spent
decreases
increases
state the effect on savings when there is economic decline
state the effect on savings when there is economic growth
increase
decrease
