what is the difference between annual income of a familyand the national income of a country ?
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Annual income is the total amount of money you make each year before deductions are taken out of your pay. ... There are two types of income that can fall under the yearly income umbrella. These types include: Net income: This is your total yearly income after deductions and taxes are made.
Concept of National Income. 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.
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1] Annual Income of Familyland is the income that can a family use.
2] National Income of a Country is used by government for country
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