Question

16 what is National Income?
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Answer 1

Explanation:

National income is the sum total of the value of all the goods and services manufactured by the residents of the country, in a year., within its domestic boundaries or outside. It is a net amount of income of the citizens by production in a year.

Additional information:-

• How do you calculate national income?

Methods of Calculating National Income

1. National Income = Rent + Wages + Interest + Profit + Mixed-Income.
2. National Income = C + G + I + NX.
3. National Income = (NDPFC) + Net factor income from abroad.

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Answer 2

Answer:

National income is the sum total of the value of all the goods and services manufactured by the residents of the country, in a year., within its domestic boundaries or outside. It is a net amount of income of the citizens by production in a year.