The money left from a person's gross income after taking out taxes is known as

Unlock all questions

This demo includes only 20 questions. Upgrade to access hundreds of questions, flashcards, exam simulations, and disable ads.

Full question bankExam simulationsFlashcards
From $24.99Unlock all

Get ready for the DECA Hospitality and Tourism Test. Study with flashcards and multiple choice questions, each question includes hints and explanations. Prepare for your assessment!

Multiple Choice

The money left from a person's gross income after taking out taxes is known as

Explanation:
Disposable income is the amount of money a person has available to spend or save after income taxes are deducted. This figure is what people actually use for daily spending on goods and services, including hospitality and travel experiences. It differs from gross income, which is the total before taxes, and from other terms that describe different ideas (distribution is about how resources are spread or allocated, destination is where someone is headed, and elasticity of demand measures how sensitive purchases are to price). So the money left after taxes is disposable income.

Disposable income is the amount of money a person has available to spend or save after income taxes are deducted. This figure is what people actually use for daily spending on goods and services, including hospitality and travel experiences. It differs from gross income, which is the total before taxes, and from other terms that describe different ideas (distribution is about how resources are spread or allocated, destination is where someone is headed, and elasticity of demand measures how sensitive purchases are to price). So the money left after taxes is disposable income.

More Multiple Choice Questions
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy