Personal income equals:
A) net national product plus income earned but not received plus income received but not earned.
B) wages and salaries plus net interest income plus transfer payments.
C) national income minus income earned but not received plus income received but not earned.
D) factor incomes received for supplying factors of production plus income received but not earned.

Question

Quizplus · Accepted Answer

Personal income is calculated by taking national income and adjusting it by subtracting income earned but not received (like social security contributions) and adding income received but not earned (like transfer payments).

Personal Income Equals