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Private income refers to the total income received by the private sector (both households and private enterprises) in an economy from all sources before any taxes are paid. It includes all factor incomes such as wages, rent, interest, and profits earned in the domestic territory or from abroad, as well as transfer incomes such as pensions, gifts, and remittances. Private income ______ ____ ____ _______ _________ ___ ___ ___ _________ ______.
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