______ is the personal income minus personal income tax and miscellaneous payments to government.

Surplus income

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Disposable income

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Expendable income

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Residual income

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Solution

The correct option is B Disposable income
Disposable income refers to the income which is freely available to the disposal of the individual. The gap between the personal income of an individual and disposal income is due the taxes and other payments made to the government on the personal income earned.
Symbolically: $Disposable Income = Personal Income - Taxes and other payments made to the government on the personal income$

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