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household income. Total income from all people living in a particular household. Income refers not only to the salaries and benefits received but also to receipts from any personal business, investments, dividends and other income. Furthermore, household members do not need to be related to be part of a household.
The total quantity of goods and services produced (or supplied) in an economy in a given period. aggregate income. The total income received by all factors of production in a given period. aggregate output (income) (Y)