What Does Personal Income Include and Exclude

question 151

Multiple Choice

What does personal income include and exclude?

• A) It includes retained earnings,corporate income taxes,and social insurance contributions,and excludes interest and transfer payments received by households from government.
• B) It excludes retained earnings,corporate income taxes,social insurance contributions,and interest,and includes transfer payments received by households from government.
• C) It excludes retained earnings,corporate income taxes,and social insurance contributions,and includes interest and transfer payments received by households from government.
• D) It includes retained earnings,corporate income taxes,social insurance contributions,and interest,and excludes transfer payments received by households from government.

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Definitions:

Wealth

A measure of the value of all the assets of worth owned by a person, community, company, or country.

Land

The solid surface of the earth that is not covered by water, or the property and natural resources found on it, often considered in terms of ownership and use.

Voltaire

An influential French Enlightenment writer, historian, and philosopher known for his wit, his criticism of Christianity, and his advocacy of freedom of speech and religion.

Candide

A satirical novella by Voltaire, first published in 1759, which criticizes the optimism promoted by the philosophies of the Enlightenment, using the naive protagonist, Candide, to explore themes of freedom, happiness, and human suffering.