ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The amount of income remaining after you’ve paid all of your federal, state and local taxes
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Discretionary income
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Disposable income
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Fixed expense
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Personal income
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Explanation:
Detailed explanation-1: -Disposable income is the money you have left from your income after you pay federal, state, and local taxes and any other mandatory payments to a government. Disposable income can be calculated as personal income minus personal current taxes.
Detailed explanation-2: -Disposable income is net income. It’s the amount left over after taxes.
Detailed explanation-3: -What is Disposable Personal Income? After-tax income. The amount that U.S. residents have left to spend or save after paying taxes is important not just to individuals but to the whole economy. The formula is simple: personal income minus personal current taxes. Learn More.
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