distinguish between national income and per capita income
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National Income : Is the total value a country's final output of all new goods and services produced in one year.
Per capita Income : When the total National Income is divided by the total population,It is called Per capita Imcome.It is the average income of an average person in that country.
Per capita Income : When the total National Income is divided by the total population,It is called Per capita Imcome.It is the average income of an average person in that country.
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Net national income (NNI) is a finance terminology applied in national income accounting. It can be described as the net national product (NNP) minus implied taxes. Net national income incorporates the assets of households, companies, and the government.
Per capita income (PCI) or common income which includes the average revenue gained per person in an area which could be city, region, the country in a specific year. It is estimated by separating the area's total revenue by its entire community.
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