ECONOMICS
INCOME DISTRIBUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Grand Main Institute
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Gross Main Income
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Gross Monthly Income
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Grand Monthly Income
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Detailed explanation-1: -Gross Mixed Income (GMI) is the profit of the self-employed after they have paid for raw materials, overheads, and any workers they employ.
Detailed explanation-2: -Gross monthly income is the amount paid to an employee within a month before taxes or other deductions. The specific amount appears on both job offer letters and paychecks. Potential additions to gross monthly income include overtime, bonuses and commission. Related: Gross Pay vs.
Detailed explanation-3: -What is the difference between GRM and GIM? The GIM is essentially the annualized version of the GRM, using a property’s annual gross rental income instead of its monthly gross rental income.
Detailed explanation-4: -If you’re a salaried employee, it’s easy to calculate your gross monthly income. Simply take your annual salary and divide it by 12, which will give you your gross monthly income. Let’s say you earn $50, 000 each year at your job. That means your gross monthly income would be $4, 166.