Total income received by households is called:

Question

Quizplus · Accepted Answer

Personal income represents the total income received by households, including wages, salaries, interest earned, and government transfer payments. National income and gross national product are broader measures that include income earned by both households and businesses, while gross domestic product measures the value of all goods and services produced within a country's borders, regardless of who earns the income.

Total Income Received by Households Is Called