Thank you for visiting If a nation s income is 15 1 trillion corporate profits are negative 2 1 trillion FICA contributions are negative 1 2 trillion and transfer. This page is designed to guide you through key points and clear explanations related to the topic at hand. We aim to make your learning experience smooth, insightful, and informative. Dive in and discover the answers you're looking for!
Answer :
The personal income from the national income is $21.3 trillion (option c).
To calculate the personal income from the national income, we need to subtract the negative corporate prices, FICA contributions, and transfer payments from the nation's income.
Given:
National income = $15.1 trillion
Corporate prices = -$2.1 trillion (negative value)
FICA contributions = -$1.2 trillion (negative value)
Transfer payments = $2.9 trillion
To calculate the personal income, we subtract the negative values and add the positive value:
Personal income = National income - Corporate prices - FICA contributions + Transfer payments
Substituting the given values: Personal income = $15.1 trillion - (-$2.1 trillion) - (-$1.2 trillion) + $2.9 trillion
When we subtract a negative value, it is equivalent to adding the positive value:
Personal income = $15.1 trillion + $2.1 trillion + $1.2 trillion + $2.9 trillion
Simplifying the calculation:
Personal income = $15.1 trillion + $2.1 trillion + $1.2 trillion + $2.9 trillion
Personal income = $21.3 trillion
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