The part of income after tax that is not consumed is defined as
ECONOMICS
JAMB 2023
The part of income after tax that is not consumed is defined as
- A. Wages and salaries
- B. Saving
- C. Capital investment
- D. Nondurable goods expenditure
Correct Answer: B. Saving
Explanation
The part of income after tax that is not consumed is defined as saving. This is because when income is earned, it is either used for consumption or saved. Therefore, if it is not consumed, it is saved. Capital investment, wages and salaries, and nondurable goods expenditure are all forms of consumption, not saving.
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