Question

Difference between national income and domestic income 2

Answer 1

Answer:

Explanation:

National income is the total income of the country.

Domestic income is the income of an individual.

Answer 2

Factor income is the sum total of factor incomes generated by residents of a country, no matter where this income is generated either with in the domestic territory or in rest of the world. It does not include net factor income from abroad.

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