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    Question

    Calculate Personal Income:

    cellspacing="0" cellpadding="0"> GDP 3000 Transfer Payments 500 Corporate income taxes 50 Indirect business taxes 210 Personal taxes 250 Undistributed corp profit 25 Depreciation 500
    A 3512 Correct Answer Incorrect Answer
    B 2715 Correct Answer Incorrect Answer
    C 2290 Correct Answer Incorrect Answer
    D 3540 Correct Answer Incorrect Answer
    E 4000 Correct Answer Incorrect Answer

    Solution

    NI = GDP + NR - IBT - CC NI = National income NR = + or - Net income from assets abroad (net income receipts) IBT = Indirect business taxes CC = Depreciation NI = 3000 + 0 - 210 - 500 = 2290 Personal Income = NI - corporate taxes - retained earnings + transfer payments PI = 2290 - 50 - 25 + 500 = 2715

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