If you take national income and add transfer payments, then subtract income earned but not received, the result will be

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When you take national income and add transfer payments (such as Social Security or unemployment benefits), then subtract income earned but not received (such as Social Security taxes or corporate income taxes), you get personal income. Personal income represents the income received by individuals, which includes wages, salaries, and other income like transfer payments, but excludes the earnings that are not directly received by individuals.

If You Take National Income and Add Transfer Payments, Then