Complete the following aggregates.
(i) National Income = Domestic income .......................
(ii) Personal Income = Private income .......................
(iii) Net value added at FC = Gross output .......................
Class XII
National income
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National Income (NNP_FC) = NDP_FC + Net Factor Income from Abroad
= domestic income + NFIA
= earnings of the residents of a country from domestic and abroad during
one accounting year.
Personal income = earned income and transfer income received by persons from all sources within and outside the country
= private income – corporate profit tax – undistributed profit Personal income
= personal disposable income + direct personal tax + miscellaneous fines and fees paid by households
Net value added at FC (factory cost) = Gross output - Intermediate consumption – depreciation – net indirect tax
= domestic income + NFIA
= earnings of the residents of a country from domestic and abroad during
one accounting year.
Personal income = earned income and transfer income received by persons from all sources within and outside the country
= private income – corporate profit tax – undistributed profit Personal income
= personal disposable income + direct personal tax + miscellaneous fines and fees paid by households
Net value added at FC (factory cost) = Gross output - Intermediate consumption – depreciation – net indirect tax
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