Question
National Income can also be called:
(
This question was previously asked in
Shift 28/05/2023 3:30 PM - 6:30 PM
A
Net National Product at Market Price
B
Gross National Product at Factor Cost
C
Net National Product at Factor Cost
D
Gross National Product at Market Price
Correct Answer
Net National Product at Factor Cost
Detailed Explanation
1.National Income is defined as the total monetary value of all goods and services produced within a country during a given period of time.
2.Meaning. (NI =NNPFC) Net Value of all economic goods and services produced within the domestic territory of a country in an accounting year plus net factor income abroad. NI = Net National Product at Factor Cost (NNPFC)
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