The Household receive transfer payments from Government and firms (Pension, Scholarship, Prizes, etc.) They are a part of :
The Household receive transfer payments from Government and firms (Pension, Scholarship, Prizes, etc.) They are a part of :
Solution
✅ Correct Option: 4
Personal Income includes all income actually received by households, which consists of private income earned plus transfer payments received from government and firms (like pensions, scholarships, prizes), minus undistributed profits and corporate tax. Transfer payments are specifically a component of Personal Income.
Related questions:
2026: 21 May Shift 1
2023: 30 May Shift 1
2025: 13 May Shift 2