Question

what is national income?​

Answer 1

ᴀ ᴠᴀʀɪᴇᴛy ᴏꜰ ᴍᴇᴀꜱᴜʀᴇꜱ ᴏꜰ ɴᴀᴛɪᴏɴᴀʟ ɪɴᴄᴏᴍᴇ ᴀɴᴅ ᴏᴜᴛᴩᴜᴛ ᴀʀᴇ ᴜꜱᴇᴅ ɪɴ ᴇᴄᴏɴᴏᴍɪᴄꜱ ᴛᴏ ᴇꜱᴛɪᴍᴀᴛᴇ ᴛᴏᴛᴀʟ ᴇᴄᴏɴᴏᴍɪᴄ ᴀᴄᴛɪᴠɪᴛy ɪɴ ᴀ ᴄᴏᴜɴᴛʀy ᴏʀ ʀᴇɢɪᴏɴ, ɪɴᴄʟᴜᴅɪɴɢ ɢʀᴏꜱꜱ ᴅᴏᴍᴇꜱᴛɪᴄ ᴩʀᴏᴅᴜᴄᴛ, ɢʀᴏꜱꜱ ɴᴀᴛɪᴏɴᴀʟ ᴩʀᴏᴅᴜᴄᴛ, ɴᴇᴛ ɴᴀᴛɪᴏɴᴀʟ ɪɴᴄᴏᴍᴇ, ᴀɴᴅ ᴀᴅᴊᴜꜱᴛᴇᴅ ɴᴀᴛɪᴏɴᴀʟ ɪɴᴄᴏᴍᴇ

Answer 2

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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. Understanding how national income is created is the starting point for macroeconomics.