Define Domestic income and national income
Answers
Answered by
7
Answer:
Domestic Income:
It is the sum total of factor incomes generated by all the production units located within domestic territory of a country during an accounting year.
National Income refers to the money value of all the goods and services produced in a country during a financial year.
Answered by
0
Answer:
Domestic Income (DY) is the sum total of factor incomes generated by all the production units located within domestic territory of a country during an accounting year.
National Income (NY) is the sum total of the value of all the goods and services manufactured by the residents of the country, in a year.
Similar questions