If Personal Income Exceeds National Income in a Particular Year

Multiple Choice

If personal income exceeds national income in a particular year, we can conclude that

A) transfer payments exceeded the sum of Social Security contributions, corporate income taxes, and taxes on production and imports.
B) the sum of Social Security contributions, corporate income taxes, and undistributed corporate profits exceeded transfer payments.
C) consumption of fixed capital and taxes on production and imports exceeded personal taxes.
D) transfer payments exceeded the sum of Social Security contributions, corporate income taxes, and undistributed corporate profits.