Throughout your life, you will need to adapt your budget to respond to changes in your income and expenses. Now, it is time to practice making changes to a budget. 4. Change your previous budget to reflect these new factors. (10 points) • Your school announced that you will not have to pay for a bus pass to get to classes, because a new school program will cover this expense for all students. • You just found out that your books will cost more than you had expected. You will now need to spend an additional $100 on books in October. • You got an unexpected raise at work; you will now be making $650 each month. • Make sure that you are still meeting your overall goal of saving $100 by the end of October.

Complete the sentences. upper a decrease in current income taxes the supply of loanable funds today because it a. decreases; increases disposable income, which decreases saving b. has no effect on; doesn't change expected future disposable income c. decreases; decreases expected future disposable income d. increases; increases disposable income, which encourages greater saving upper a decrease in expected future income a. increases the supply of loanable funds today because households with smaller expected future income will save more today b. has no effect on the supply of loanable funds c. decreases the supply of loanable funds because it decreases wealth d. decreases the supply of loanable funds today because households with smaller expected future income will save less today