第二十五篇Inome.docVIP

Income Income may be national income and personal income. Whereas national income is defined as the total earned income of all the factors of production—namely, profits, interest, rent, wages, and other compensation for labor, personal income may be defined as total money income received by individuals before personal taxes are paid. National income does not equal GNP Gross National Product because the factors of production do not receive payment for either capital consumption allowances or indirect business taxes, both of which are included in GNP. The money put aside for capital consumption