Question

Definition of national income?

Answer 1

National income is the total value a country's final output of all new goods and services produced in one year. Understanding hownational income is created is the starting point for macroeconomics.

Answer 2

Heya friend,

Here is the answer:

DEFINITION:

The total net earnings goods and services of productions of a country over a specific time period.

For eg: the complete earnings of production of the country is summarised and atlast it is seen in a total sum