WAEC Economics 2014 Objective — Question 10

Question 10 of 50 from the West African Examinations Council (WAEC) Economics 2014 Objective paper, with the correct answer and a full explanation.

Disposable income is the income

A. earned by the nationals of a country resident within the country
B. from productive activities of nationals of a country both at home and abroad
C. when personal income tax is deducted from personal incomeCorrect
D. when the gross income of an individual is added to personal income tax

Explanation

Disposable income is the income left at the disposal of individuals after the personal income tax has been deducted. This income is left to be spent or saved.

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