Saved Bookmarks
| 1. |
Explain the concept of normal residents. |
|
Answer» A normal resident of a country can be defined as a person, who ordinarily resides in a country and whose centre of interest also lies in that country. Normal residents means, those persons, who have been granted the citizenship of that country. National income is said to be the total of all the incomes of the normal residents of a country. Since we differentiate between the economic activities of normal residents and non-residents, therefore, the concept of normal residents is important in the calculation of national income. |
|