Question

difference between national income and personal income?​

Answer 1

Answer:

National income is a broader national level economic measure than is personal income. ... Personal income includes payments to individuals (income from wages and salaries, and other income), plus transfer payments from government, less employee social insurance contributions.

Answer 2

Answer:

Factors of Production: National income includes the earnings which are generated by various factors involving production but personal income, on the other hand, involves earnings which are received by those factors of production. As such, personal income is more of a receipt concept

Explanation:

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