WBCS.LIVE practice question

What is personal income?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. The income earned by individuals and households after taxes and other deductions.
  2. The total income earned by businesses and corporations in an economy.
  3. The income earned by individuals through their own business or self-employment.
  4. The total income earned by individuals and households before taxes and other deductions.

Correct answer and explanation

Correct answer: The total income earned by individuals and households before taxes and other deductions.