what is national income
Answers
Answer:
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
National income means the value of goods and services produced by a country during a financial year. Thus, it is the net result of all economic activities of any country during a period of one year and is valued in terms of money. National income is an uncertain term and is often used interchangeably with the national dividend, national output, and national expenditure. We can understand this concept by understanding the national income definition.