Asked by
Yuhan Zhang
on Dec 08, 2024Verified
Your employer pays for the maintenance on your car. The monetary value of this car maintenance is
A) included in your economic income, but not your money income.
B) not included in your economic income, but included in your money income.
C) not included in either economic income or money income.
D) included in both economic and money income.
Economic Income
The total value of all income received by an individual or entity, including both monetary returns and the monetary value of non-monetary gains.
Money Income
The total amount of monetary earnings received by an individual or household, including wages, salaries, and other income sources.
Car Maintenance
The process of performing regular checks and necessary repairs on a vehicle to ensure it runs efficiently and safely.
- Recognize how different types of taxes and deductions impact economic and money income.
Verified Answer
JM
Learning Objectives
- Recognize how different types of taxes and deductions impact economic and money income.