Table 23-1

question 190

Multiple Choice

Table 23-1. The data pertain to the nation of Simplia for the year 2006.

-Refer to Table 23-1.Disposable personal income for this economy is

• A)$61
• B)$56.
• C)$47.
• D)$41.

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Definitions:

Externalities

Fiscal aftereffects that influence neutral individuals, having either favorable or adverse effects.

Cost

An amount that must be paid or spent to buy or obtain something, covering expenses such as manufacturing, labor, or materials.

Benefit

The advantage or profit gained from something, often used in the context of weighing costs against benefits in decision-making processes.

Freely Functioning Market

A market where goods and services are traded without any restrictions or interventions from governments.