False. The highest level of income does not necessarily occur at the point of the business cycle. In fact, the business cycle includes both periods of expansion and contraction, which can affect income levels in different ways. During an expansionary phase, income may increase due to factors such as increased consumer spending and investment, while during a contractionary phase, income may decrease due to factors such as reduced demand and job losses. Therefore, the point of the business cycle does not necessarily correspond with the highest level of income.