Of the Following Countries, the One with the Largest Annual

question 88

Multiple Choice

Of the following countries, the one with the largest annual government spending-to-GDP ratio in 2014 was:

• A) Japan.
• B) South Korea.
• C) the United States.
• D) the United Kingdom.
• E) France.

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Definitions:

Disposable Income

Economic latitude for households in spending and saving after the removal of income taxes.

APS

Automatic positioning system; however, in an economic context, it often refers to the Average Propensity to Save, indicating the proportion of income that is saved rather than spent.

Saving

The portion of income not spent on immediate consumption but set aside for future use, typically in bank accounts, investments, or other forms of financial savings.

Disposable Income

The spending and saving financial capacity of households after deductions for income taxes.