Provide an Appropriate Response

question 23

Short Answer

Provide an appropriate response.
-List four sources of income for which an individual might receive W-2 and 1099 forms.

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Definitions:

Consumption

The consumption of products and services by families, an essential element in measuring a nation's Gross Domestic Product (GDP).

Savings

The portion of disposable income not spent on consumption of goods and services, often placed in a deposit account.

Disposable Income

Funds apportioned to households for saving and spending after the settlement of income taxes.

Consumption

Domestic consumption of goods and services by households.