Which aggregate represents national income
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It is the sum of every citizen's income. It is computed as Net National Product (GNP-depreciation) less indirect business taxes. Originally Answered: What is real national income? Inflation (with the help of GDP deflator) adjusted, Nominal national income, known as real one.
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NNP (at factor cost) aggregate represents 'National Income'. NNP (at factor cost) stands for Net National Product or National Income.
Formula: NNP( AT FC) = GDP( AT MP) - DEPRECIATION - NET INDIRECT TAX + NET FACTOR INCOME FORM ABROAD.
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