S in a given period of time personal income pi income

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Unformatted text preview: U.S. in a given period of time. Personal Income (PI) – income received by persons from participation in production (including compensation and interest and dividend income) and from transfers from government and businesses. 2 1/10/2014 Year GDP (Billions of Dollars) 2008 14,460.7 2009 14,091.2 2010 14,715.9 2011 14,991.3 2012 15,684.7 An increase in GDP is good, because household incomes benefit from it. After 2 consecutive quarters of downward movement, we are considered in a recession. 3 1/10/20...
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