Define National Income. What is the difference between National Income and Domestic Income?
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yearly income of the nation. national income is the income of the nation and domestic income is the income of a family
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A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product, gross national product, net national income, and adjusted national income.
Basic Difference between Domestic Income and National Income! ... It happens because national income includes the income of normal residents only (irrespective of their place of earning), whereas, domestic income includes the income of both residents and non-residents (but, within the domestic territory of the country).
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