Refer to Table 8-31. The table above represents hypothetical data from the National Income Accounts for 2015. Use the data to calculate personal income and disposable personal income

What will be an ideal response?


Personal Income = National income - Retained earnings + Transfer payments + Interest on government bonds.
Substituting the table values:
Personal Income = $7,400 - 480 + 1,000 + 450
= $8,370 billion.

Disposable personal income = Personal Income - Personal Taxes
= $8,370 - 1,100 = $7,270 billion.

Economics

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Economics

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Economics

Charging drivers with good records lower premiums than drivers with bad records is an example of an attempt by insurance companies to deal with the problem of

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Economics

Which of the following statements in the context of poverty in the U.S. is true?

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Economics