Table 19-32 -Refer to Table 19-32

question 168

Essay

Table 19-32
$$\begin{array} { | l | c | } \hline & \begin{array} { c } \text { Billions of } \\\text { Dollars }\end{array} \\\hline \text { National income } & \$ 11,200 \\\hline \text { Retained earnings } & 560 \\\hline \text { Depreciation } & 700 \\\hline \text { Interest on government bonds } & 300 \\\hline \text { Transfer payments } & 2,200 \\\hline \text { Personal taxes } & 1,400 \\\hline\end{array}$$
-Refer to Table 19-32.The table above represents hypothetical data from the National Income Accounts for 2015.Use the data to calculate personal income and disposable income.

---

Definitions:

Profit

The financial gain achieved when the amount earned from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Loss

An economic condition where expenses exceed revenues, resulting in negative profit.

Price Discrimination

Price discrimination is the strategy of selling the same product at different prices to different groups of consumers, often based on their willingness to pay, location, or purchase volume.

Disguised Subsidy

Financial support given to industries or businesses in indirect ways, not easily identifiable as traditional subsidies, to lower their costs or increase their competitiveness.