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explain term average income and national income |
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Answer» Average income is the per capita income. It is calculated by dividing the total income of the country by its total population. National income is the sum total of all the goods & services produced in a country along with the income obtained from the foreign countries. National income means the total value of all the goods and services produced within a country plus net income coming from abroad. Average Income means the total income of the country divided by total population of the country |
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