ABSTRACT

Introduction to U.S. Economy: Personal Income [Updated November 14, 2019]   [open pdf - 454KB]

From the Document: "Income is a measure of resources accruing to an individual over a period of time. In general, individuals receive income from their labor, assets, and government transfers. In its broadest terms, income is a measure of the maximum amount of goods and services an individual can consume in a given period without diminishing their net worth (the difference between their assets and liabilities) at the end of the period. Income is considered a flow variable because it is measured over a period of time; in contrast, net worth, a stock variable, is measured at a given point in time."

Report Number:
CRS In Focus, IF10501
Author:
Publisher:
Date:
2019-11-14
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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