Asked by Brianna Prater on Jul 01, 2024
Verified
A person's full income is the amount of income that he or she would have if there were no taxes.
Full Income
The total earnings, including all sources of income and gains, not just wages from employment.
- Comprehend the relationship between full income, taxation, and labor supply.
Verified Answer
PS
PRABHDEEP SINGH8 days ago
Final Answer :
False
Explanation :
Full income refers to the amount of income earned before any taxes or deductions are taken out. Therefore, the statement that "a person's full income is the amount of income that he or she would have if there were no taxes" is false.
Learning Objectives
- Comprehend the relationship between full income, taxation, and labor supply.