Regardless of Income or Wealth, Setting Aside Some Portion of Current

question 21

Multiple Choice

Regardless of income or wealth, setting aside some portion of current income regularly for future use increases the amount of:

• A)savings.
• B)tax-exempt income.
• C)deferred tax.
• D)employee benefits.
• E)tangible assets.

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Definitions:

Budget Constraint

A representation of all the combinations of goods and services a consumer can afford to buy given their income and the prices of the goods.

Income

Regular payments or earnings received from labor or investments.

Nuts

Edible seeds enclosed in a hard shell, often used in the context of food and nutrition.

Berries

Little, fleshy fruits that are commonly fit for consumption, characterized by their juiciness, round appearance, vibrant hues, and a taste that may be either sweet or tart.