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MTTC Economics (007) Practice Tests & Test Prep by Exam Edge - Review



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MTTC Economics - Reviews


   Excellent
Based on 125 reviews

Shanon


"I took the MTTC test for the very first time recently. I was very nervous about taking the test until I went through your practice tests. The detailed questions and explanation gave me the confidence I needed to pass the test. I could not have done that without your website! "

Sue


"I am so happy for the practice test online!! They have made it possible for me to pass my MTTC certification on the First TRY!"

Catherine


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"I passed both of my Michigan Teacher Certification exams using Exam Edge. It was very helpful in getting access to relevant questions that prepared me for the test. Some of the topics for the questions were the SAME as my real test, which was awesome. I will recommend this to all my teacher friends."

Aimee


   TrustPilot Review

"The questions weren't even close to what was asked on the MTTC 056 exam. Very disappointed and a waste of my money."

Mike


"I recently took the Counselor MTTC 51 test and did not pass it. I honestly did not what I was going to do. I just happened to come across Exam Edge, and purchased the 5 practice tests. It gives you the explanations of the questions you missed. It also mirrors the actual first test I took. Well, I passed, I could not have done this without this product, Thank you Exam Edge."

Giridhar


"Hello ExamEdge Team, I am a current high school chemistry teacher (2020-21) at UPSM-HS, Detroit, MI. I want to share my MTTC Chemistry exam success experience. I recently gave my MTTC Chemistry exam on 04/02/2021 at 10 am, in Michigan, and I passed my exam on my very first attempt. I purchased 15 practice tests from ExamEdge and I am very happy that ExamEdge practice exams have played a critical role in my success. I have a scanned copy of the printout from the test center which shows that I have passed the exam and I can share it with your team for authenticity if you think it might help you. But thank you to your team for the wonderful practice exams."

Sandra,


"Just wanted to say a quick thank you for providing sample tests for MTTC for Business, Management, Marketing and Technology as my state did not and because of prepping with Exam Edge I passed my first time. Thank you again!!!"



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See why our users from 154 countries love us for their exam prep! Including 125 reviews for the MTTC Economics exam.

Exam Edge is an industry leader in online test prep. We work with institutional partners to offer a wide array of practice tests that will help you prepare for your big exam. No matter how niche your field of interest might be, we're here to help you prepare for test day.

   Excellent -- Based on 125 reviews

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MTTC Economics - Test Reviews Sample Questions

Personal disposable income of an economy of a country is equal to

Correct Answer:
wages and salaries+dividends paid at home+income received from abroad+transfers from government-personal income tax


personal disposable income (pdi) is a crucial economic indicator that reflects the amount of money that individuals in a country have available for spending and saving after accounting for taxes. it is essentially the net income available to households after taxes have been deducted and is a key driver of consumer spending and overall economic activity.

to calculate personal disposable income, various components of personal income must be considered: 1. **wages and salaries:** this is the total earnings from employment, including bonuses, overtime, and other compensation for services rendered. 2. **dividends paid at home:** this includes income received from shares or stakes in domestic companies. it represents the part of corporate profits distributed to shareholders. 3. **income received from abroad:** this encompasses earnings received from foreign sources. it could include wages for work performed abroad, dividends from foreign investments, or any income generated from foreign assets. 4. **transfers from government:** these are various types of government payments to individuals, such as social security benefits, unemployment benefits, and other social assistance payments. these transfers are vital as they often represent a significant portion of income for certain groups within the population.

from these components, personal income tax is subtracted. personal income tax is the tax levied on individual earnings from all sources. the subtraction of taxes is essential to reflect the actual disposable income individuals have at their disposal.

thus, the formula for calculating personal disposable income can be expressed as: \[ \text{pdi} = (\text{wages and salaries} + \text{dividends paid at home} + \text{income received from abroad} + \text{transfers from government}) - \text{personal income tax} \]

this formula highlights that pdi not only includes earnings from labor but also considers income from investments, foreign sources, and government transfers, adjusted for the taxes paid. this comprehensive approach ensures a more accurate reflection of the financial resources available to individuals and households.

understanding personal disposable income is critical for economic analysis as it provides insights into the potential for consumer spending, saving behavior, the financial health of the population, and overall economic stability. it helps policymakers in designing fiscal policies and gauging the impact of taxation and government spending on the populace.