Table 12-32 -Refer to Table 12-32

Table 12-32
$$\begin{array} { | l | c | } \hline & \text { Billions of Dollars } \\\hline \text { National income } & \$ 11,200 \\\hline \text { Retained earnings } & 560 \\\hline \text { Depreciation } & 700 \\\hline \text { Interest on government bonds } & 300 \\\hline \text { Transfer payments } & 2,200 \\\hline \text { Personal taxes } & 1,400 \\\hline\end{array}$$
-Refer to Table 12-32.The table above represents hypothetical data from the National Income Accounts for 2013.Use the data to calculate personal income and disposable income.

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Personal income = National income - Reta...

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