--%>

How do households dispose of their income

How do households dispose of their income?

E

Expert

Verified

1. Federal personal income tax is the major component in Personal taxes of which has increased over the years.

2. The smallest fraction of personal income disposition is Saving.

3. Most of household income goes to consumer spending. There are several categories of spending categories:

a. Durable goods are those with life of three or more years.

b. Nondurable goods include things such as food and clothing.

c. Services are today more than one half of all consumer spending, which demonstrates that ours is a service-oriented economy.

   Related Questions in Business Economics

  • Q : History of King Louis world of commerce

    Early in the 18th century, a leading industrialist responded to an advisor of King Louis IV of France, who asked how the crown could most excellent facilitate the world of commerce, along with “Laissez nous faire,” that im

  • Q : Describe the types of multiplant firms

    Describe the types of multiplant firms?

  • Q : Specialization in division of labor I

    I have a problem in economics on Specialization in division of labor. Please help me in the following question. Jennifer writing computer code whereas Melissa handles the business features of Econo-Software would be an illustration of specialization i

  • Q : Unpredictable and frequent fluctuations

    Adam Smith attributed unpredictable and frequent fluctuations within profits to: (i) variations in the prices of the goods a firm or person produces and sells. (ii) the bad or good fortune of rivals. (iii) the good or bad fortune of customers. (iv) tr

  • Q : The federal fiscal stimulus Question:

    Question: Was the stimulus package passed in 2009 as success?  In answering this question the focus should be the articles on the syllabus, but you should also include opinions of other commentators.   Your answer should also describe w

  • Q : An Inquiry in the Nature and Causes The

    The first comprehensive work upon economics written within English was authored through Adam Smith in 1776 year and entitled that “An Inquiry within the Nature and Causes of: (1) Laws of Supply and Demand.” (2) Wealth of Nations.” (3

  • Q : Describe redistributive effects of

    Describe redistributive effects of inflation?

  • Q : Market Apparent program For the

    For the question below, utilize the given information. The market for gizmos is competitive, with an increasing sloping supply curve and a downward sloping demand curve. With no govt. intervention, the equilibrium price is $25 and the equilibrium quantity is 10,000 gi

  • Q : Consumer purchase decision If the price

    If the price of a good is given, how does a consumer choose/decide as to how much of that good to purchase?

  • Q : Enterprise is dictated primarily by

    “The legal form an enterprise assumes is dictated primarily by the financial requirements of its particular line of production.”  Do you agree?