Total personal income is defined by the United States' Bureau of Economic Analysis as
income received by persons from all sources. It includes income received from participation in production as well as from government and business transfer payments. It is the sum of compensation of employees (received), supplements to wages and salaries, proprietors' income with inventory valuation adjustment (IVA) and capital consumption adjustment (CCAdj), rental income of persons with CCAdj, personal income receipts on assets, and personal current transfer receipts, less contributions for government social insurance. [1]
Total personal income is a key value in calculating per capita income.[2]
See
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References
- ^ "Glossary". United States Department of Commerce, Bureau of Economic Analysis. http://bea.gov/bea/glossary/glossary_p.htm. Retrieved 2008-01-04.
- ^ Rogers, Carol O. (January/February 2003). "Per Capita Income Confusion for Counties". State of Indiana and Indiana University Partnership for Economic Development. http://www.ibrc.iupui.edu/incontext/2003/jan-feb03/details.html. Retrieved 2008-01-04.
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