On Average Over the Past 50 Years,the U

question 249

Multiple Choice

On average over the past 50 years,the U.S.economy has grown at the rate of about

• A)1 percent per year.
• B)3 percent per year.
• C)4 percent per year.
• D)6 percent per year.

---

Definitions:

Disposable Income

The sum available for household consumption and saving after the reduction of income taxes.

Consumption

The total value of goods and services used by households and non-profit institutions serving households, excluding purchases of dwellings.

Saving

The act of setting aside money for future use, often by depositing it in a bank or investing in assets.

Disposable Income

The total money a person or household can use for saving or spending after deducting income taxes.