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JAMB Economics 1987 Question 47

Question 47

National Income

The difference between personal income and personal disposable income is

  1. A.personal income tax
  2. B.investment income
  3. C.personal savings
  4. D.consumption expenditure.
Show the answer and explanation

Answer: A (personal income tax)

Explanation

Disposable income is personal income after personal income tax has been deducted.