Economics · National Income Accounting
Which of the following identities correctly defines Personal Income (PI)?
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- 1Personal Income (PI) ≡ NI - Undistributed profits - Net interest payments made by households - Corporate tax + Transfer payments to the households from the government and firms✓
- 2Personal Income (PI) ≡ NI - Undistributed profits - Net interest payments made by households + Transfer payments to the ho useholds from the government and firms
- 3Personal Income (PI) ≡ NI + Undistributed profits - Net interest payments made by households - Corporate tax + Transfer payments to the households from the government and firms
- 4Personal Income (PI) ≡ NI - Undistributed profits - Net interest payments made by households - Corporate tax - Transfer payments t o the households from the government and firms
Correct answer
Personal Income (PI) ≡ NI - Undistributed profits - Net interest payments made by households - Corporate tax + Transfer payments to the households from the government and firms
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