What happens when domestic income rises?
Consumption also increases as disposable income increases.
the demand for inferior goods varies inversely with income. If your income rises then the demand for rice will decrease. the demand for normal goods varies directly with income. If your income rises the demand for these goods will rise as well. Most goods are normal goods ie, cars, new homes, furniture, steaks, and motel rooms. Economics, Stephen L Slavin 10e
A total domestic income, or Gross Domestic Income (GDI), is the total income received by all sectors of an economy within a nation which includes the sum of all profits and wages minus liabilities/subsidies.
it rises
The Gross Domestic Income, or GDI, is total of all income of a country, both from services and products manufactured. It is used to evaluate economic activity based on income.
the percentage of tax rises
The percentage of an income that is taxed will stay the same when income rises until that income reaches a certain point set by the government. A higher tax bracket may mean a higher portion of the income will be taxed.
Consumption also increases as disposable income increases.
The tax states the same
The percentage of tax stays the same.
the demand for inferior goods varies inversely with income. If your income rises then the demand for rice will decrease. the demand for normal goods varies directly with income. If your income rises the demand for these goods will rise as well. Most goods are normal goods ie, cars, new homes, furniture, steaks, and motel rooms. Economics, Stephen L Slavin 10e
A total domestic income, or Gross Domestic Income (GDI), is the total income received by all sectors of an economy within a nation which includes the sum of all profits and wages minus liabilities/subsidies.
it rises
it rises
The Gross Domestic Income, or GDI, is total of all income of a country, both from services and products manufactured. It is used to evaluate economic activity based on income.
yes it is a normal good . because price rises, demand also rises subject to condition that income rises
The Dark Knight Rises grossed $448,139,099 in the domestic market.