The best measure of the income households actually have available to spend is
A) personal income.
B) disposable personal income.
C) national income.
D) net national income.
Suppose that in 2011,the national income in the United States was $200 billion,depreciation was $15 billion,personal taxes were $20 billion,and transfer payments were $10 billion.Gross domestic product in 2011 is
A) $185 billion.
B) $215 billion.
C) $220 billion.
D) $245 billion.
Disposable personal income equals personal income
A) minus personal tax payments.
B) plus government transfer payments.
C) minus personal tax payments plus government transfer payments.
D) minus government transfer payments plus personal tax payments.
The components of national income for an economy are represented in Table 19-15 above. All values are in billions of dollars.
-Refer to Table 19-15.What is the level of personal income for this economy?
A) $1,140 billion
B) $1,010 billion
C) $990 billion
D) $860 billion