Private disposable income is equal to

A) Y + TR + INT - T.
B) Y + NFP + TR + INT - T.
C) Y - TR - INT + T.
D) Y + CA - G.

B

Economics

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Households and firms in the U.S. economy interact with those in the rest of the world in the ________ market and in the ________ market

A) goods; factor B) goods; financial C) government; goods D) financial; factor E) firm; government

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What do economists call the tendency of people at a higher wage rate to choose free time over work?

a. substitution effect b. income effect c. diversion theory d. leisure theory

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