Economics Today and Tomorrow, Student Edition
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN: 9780078747663
Author: McGraw-Hill
Publisher: Glencoe/McGraw-Hill School Pub Co
Question
Book Icon
Chapter 6, Problem 7AA
To determine

To choose: The term that best completes the given sentence.

Expert Solution & Answer
Check Mark

Answer to Problem 7AA

The best term for the given statement is “portion”.

Explanation of Solution

Traditionally, a paycheck is a paper document provided by an employer to pay a worker for services rendered.

A person uses the income for two purposes. Either for consumption or for saving. Savings done in the present can be used for the consumption purpose in the future. Also, the value of saved money rises in the future if the rate of interest rises more than the inflation rate.

It is always good to save a porting of every paycheck because it helps in future consumption or time when a person is unable to earn because of some uncertainty.

Thus, the suitable term for the given statement is “e- portion”.

Knowledge Booster
Background pattern image
Recommended textbooks for you
Text book image
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:9780190931919
Author:NEWNAN
Publisher:Oxford University Press
Text book image
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Text book image
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Text book image
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Text book image
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Text book image
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education