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JAMB Economics 1978 Question 25

Question 25

National Income

Disposable income is the same thing as

  1. A.personal income minus personal saving
  2. B.personal income minus taxes
  3. C.national income minus depreciation
  4. D.exports minus imports
  5. E.savings plus investment.
Show the answer and explanation

Answer: B (personal income minus taxes)

Explanation

Disposable income is what a person has left to spend or save after paying personal taxes.