Chapter-04 - Functional Distribution of Income 2007 The U.S...

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1 The U.S. Economy: Public and Private Sectors Chapter 4 Functional Distribution of Income 2007 Wages & Salaries Rents Interest Proprietor’s Income Corporate Profits Income By Function Performed National Income Received (Percent) 0 10 20 30 40 50 60 70 71% 1% 5% 9% 14% Source: Bureau of Economic Analysis 4-2 Indicates how the nation’s income is apportioned among wages, rents, interest and profits according to the function performed by the receiver. Households as Spenders • Personal taxes (13%) • Personal saving (after taxes:1%) • Personal consumption (86%) Saving and consumption varies directly with income 4-3 Personal Distribution of Income 2009 Lowest 20% Second 20% Middle 20% Fourth 20% Highest 20% Income Group (Households) Personal Income Received (Percent) 0 10 20 30 40 50 60 3.4% 8.6% 14.6% 23.2% 50.3% Source: Bureau of the Census 4-4 Indicates how the nation’s total income is divided among households by quintile The Business Population •Plant •Firm •Industry •Multiplant firms •Vertically integrated •Conglomerates 4-5 Legal Forms of Businesses Percentage of Firms Percentage of Sales Sole Proprietorships Partnerships Corporations Sole
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