Use the Following to Answer Questions

question 169

Multiple Choice

Use the following to answer questions .
Exhibit: Income and Consumption

-(Exhibit: Income and Consumption) When disposable personal income is $300, what is the amount of personal saving?

• A) −$40
• B) −$20
• C) $0
• D) $20

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Definitions:

Chapter 13

A section of the U.S. bankruptcy code allowing individuals earning regular income to develop a plan to repay all or part of their debts.

Debtor

An individual or entity that owes money to another entity, known as the creditor.

Bad Faith

Intentional dishonest act by not fulfilling legal or contractual obligations, misleading another, entering into an agreement without the intention or means to complete it, or violating basic standards of honesty in dealings.

Chapter 13

A type of bankruptcy under the United States Bankruptcy Code that allows individuals earning regular income to develop a plan to repay all or part of their debts.