Which of the following statements is true ?
A) National income is total income earned by households whereas personal income is total income received by households (including transfer payments) .
B) Disposable personal income equals personal income plus personal taxes.
C) The expenditures approach yields a higher GDP value than the income approach.
D) The expenditures approach yields a lower GDP value than the income approach.
Correct Answer:
Verified
Q82: Real GDP means GDP:
A) valued at prices
Q83: Which national income account should be examined
Q84: The equation for determining real GDP for
Q85: Exhibit 5-8 GDP data (billions of dollars)
Q86: Exhibit 5-8 GDP data (billions of dollars)
Q88: Discuss how economists calculate NI, PI and
Q89: Which of the following is included in
Q90: Disposable personal income:
A) includes personal income taxes.
B)
Q91: Exhibit 5-8 GDP data (billions of dollars)
Q92: To get personal income from national income,
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