Table 53 National Income Accounts (Dollar Figures Are in Billions)

question 42

Multiple Choice

Table 5.3 National Income Accounts (dollar figures are in billions)
$$\begin{array} {| l | r| } \hline \text { Expenditures for consumer poods and services } & \$ 8,200 \\\hline \text { Exports } & \$ 1,700 \\\hline \text { Government purchases of poods and services } & \$ 2,500 \\\hline \text { Docial Security taxes } & \$ 1,900 \\\hline \text { Net irvestment } & \$ 1,400 \\\hline \text { Indirect business taxes } & \$ 1,400 \\\hline \text { Irnoorts } & \$ 1,900 \\\hline \text { Gross irvestment } & \$ 1,800 \\\hline \text { Corporate income taxes } & \$ 600 \\\hline \text { Personal income taxes } & \$ 1,500 \\\hline \text { Corporateretained earnings } & \$ 130 \\\hline \text { Net foreipn factor income } & \$ 100 \\\hline \text { Government transfer payments to households } & \$ 1600 \\\hline \text { Net interest paynnents to households } & \$ 500 \\\hline\end{array}$$
On the basis of Table 5.3,the value of the income aggregate that is defined as "total income earned by current factors of production" (also known as national income) is

• A)$10,700 billion.
• B)$12,300 billion.
• C)$11,900 billion.
• D)$12,000 billion.