Which of the following statements is true?
A) National income accountants consider the portion of corporate profits that is used to pay corporate profits taxes to be income earned by households but not received.
B) Net domestic product (NDP)is a smaller dollar amount than GDP.
C) Personal income includes transfer payments.
D) b and c
E) a,b,and c

Question

Quizplus · Accepted Answer

A) is true because national income accountants view corporate profits taxes as part of households' income, even though these funds are not directly received by households. B) is correct because NDP is GDP minus depreciation, making it a smaller amount. C) is accurate as personal income encompasses all income received by individuals, including transfer payments like social security or unemployment benefits.

Which of the Following Statements Is True