The correct answer is: D. Personal Income
Personal income is the total income received by individuals from all sources, including wages, salaries, interest, dividends, and rental income. It is calculated by subtracting personal direct taxes from gross national income (GNI).
Gross domestic product (GDP) is the total market value of all final goods and services produced within a country’s borders in a given year. It is calculated by adding up the value of all goods and services produced by businesses, governments, and households.
National income is the total income earned by all factors of production within a country’s borders in a given year. It is calculated by adding up the income earned by labor, capital, and land.
Gross national product (GNP) is the total market value of all final goods and services produced by a country’s residents, regardless of where they are located, in a given year. It is calculated by adding up the value of all goods and services produced by businesses, governments, and households, both domestically and abroad.
Personal direct taxes are taxes that are levied directly on individuals, such as income tax, property tax, and sales tax. They are subtracted from personal income to arrive at disposable income, which is the amount of money that individuals have available to spend or save.