Aggregate Income: Definition & Formula


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question 1 of 3

Which of the following is the correct definition of aggregate income?

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1. Which of the following is a variable used in the calculation of aggregate income?

2. When calculating aggregate income, what function must be performed between government income and government subsidies?

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About This Quiz & Worksheet

This combination of assessments will test your understanding of aggregate income and its calculation. Quiz questions will address variables of aggregate income and how to calculate it.

Quiz & Worksheet Goals

In this quiz, questions will inquire regarding:

  • How to define aggregate income
  • Variables in aggregate income
  • How to calculate aggregate income
  • Solve for aggregate income

Skills Practiced

You will utilize the following skills in this work:

  • Problem solving - use acquired knowledge to solve for aggregate income in practice problems
  • Information recall - access the knowledge you've gained regarding how to calculate aggregate income
  • Interpreting information - verify that you can read information regarding variables in determining aggregate income and interpret it correctly
  • Reading comprehension - ensure that you draw the most important information about aggregate income from the related lesson

Additional Learning

To continue your study of this subject, check out the complementary lesson named Aggregate Income: Definition & Formula. This lesson covers multiple goals, such as:

  • Identify the factors that determine aggregate income
  • Learn what the aggregate income shows
  • Understand how to calculate aggregate income
  • Solve for aggregate income in practice problems within the lesson