3.4 - Personal Income (PI)
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Practice Questions
Test your understanding with targeted questions
What is included in Personal Income?
💡 Hint: Think about different sources of income.
Does Personal Income include corporate taxes?
💡 Hint: Consider what types of income are counted.
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Interactive Quizzes
Quick quizzes to reinforce your learning
Personal Income includes which of the following?
💡 Hint: Focus on the definition of Personal Income.
True or False: Disposable Income is the total income before tax deductions.
💡 Hint: Remember what Disposable Income reflects.
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Challenge Problems
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If a person earns a salary of $60,000 a year, receives $5,000 in dividends, and pays $15,000 in taxes, calculate their Disposable Income and explain the importance of this figure.
💡 Hint: Remember the formula to calculate Disposable Income.
Discuss how a government policy that increases personal taxes could impact both Personal Income and consumer spending in an economy.
💡 Hint: Consider the chain reaction caused by tax changes.
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