Leigh and Rob Prepared a Household Budget in an Attempt

question 251

Multiple Choice

Leigh and Rob prepared a household budget in an attempt to manage their money better. They prepared the following list: Monthly income (after taxes) = $4,500; Monthly expenses (necessities) , which include rent, $550; auto loan, $250; student loan, $200; savings, $500; food, $200 = $1,700; Amount left over = $2,800 (income less necessary expenses) . The remaining $2,800 is their

• A) gross income.
• B) personal income.
• C) disposable income.
• D) discretionary income.
• E) profit.

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Definitions:

High-Productivity

A measure of efficiency that describes a high output level per unit of input within a given time period.

Educational Level

A measure of the highest level of schooling or training achieved by an individual, often critical for determining employment opportunities and income.

Learning Cost

The expenses related to acquiring new skills or knowledge, including both direct costs and opportunity costs.

Educational Level

The highest stage of formal learning or schooling that an individual has completed.