Question

What is mean by national income?

Answer 1

Explanation:

Gross National Income (GNI) is defined as GDP (Gross Domestic Product; income generated by production activities on economic territory of that particular country) plus the net receipts from wages, salaries, property income taxes, and subsidies of the country's citizens abroad minus the income earned in the domestic

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Answer 2

Answer:

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