National income

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National income (NI) is the sum of income earned by the factors of production owned by a country's citizens. It includes wages, salaries, and fringe benefits paid for labor services, rent paid for the use of land and buildings, interest paid for the use of money, and profits received for the use of capital resources.

Personal Income

Personal income (PI) is the money income received by households before personal income taxes are subtracted, and disposable income (DI) is personal income less personal income taxes.

See also