What is National Income? How is it calculated?
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National income is the total money value of goods and services produced by a country in a particular period of time. The duration of this period is usually one year. National income can be defined by taking three viewpoints, namely production viewpoint, income viewpoint, and expenditure viewpoint.
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National income is the total money value of goods and services produced by a country in a particular period of time. The duration of this period is usually one year. National income can be defined by taking three viewpoints, namely production viewpoint, income viewpoint, and expenditure viewpoint.
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