QUESTION 1 Gross income refers to the money that remains after paying for taxes and necessities. money deducted from a person's paycheck to pay for federal, state, and local taxes. Omoney a consumer has left after paying taxes to use for necessities such as food, shelter, clothing, and transportation. total amount of money made by a single individual during his or her lifetime. O total amount of money made in one year by a person, household, or family unit. QUESTION 2 Recent data on consumer expenditures indicate that the savings rate of U.S. consumers has declined to 13 percent. remained flat at 0.5 percent. fluctuated minimally around 2 percent. risen to 7.5 percent. exploded to nearly 10 percent. QUESTION 3 Discretionary income refers to the O money deducted from a person's paycheck to pay for federal, state, and local taxes. O total amount of money made by a single individual during his or her lifetime. O money a consumer has left after paying taxes to use for necessities such as food, shelter, clothing, and transportation O money that is spent for necessities or charitable causes that is exempt from taxation. money that remains after paying for taxes and necessities. QUESTION 4 Approximately what percentage of US, households has an annual income between $25,000 and $99.9997 13% 28% 37% 42% 50% QUESTI