Income Approach Components are National Income+Capital Consumption allownance+Statistical Discrepancey. What are each.What is Personal Income and Personal Disposabla.
CCA - Capital Consumption Allowance is the measure of depreciaton of physical cpaitla from production of good.
Statistical Disctrepancy is adjustment for diff between GDP and INcome.
National Income = sum of income recevied by all factors of production that go into creation of final ouptu. (employee compensation, corporate and govt profits before taxes, interest income, unicorporated business net income, rent, indirect taxes.
Personal Inocme is pretax income received by households. Includ national income, transfer payments, minus indirect business tax, coroporate income tax, undistriubted corporate prfoits.
Personal Dsposable is income tax minus personal taxes.