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What is national income? How it is calculated? write |
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Answer» NATIONAL INCOME; National income is the TOTAL value a country's final output of all new GOODS and services produced in one YEAR. Understanding how national income is created is the starting point for macroeconomics. How it is calculated? National Disposable Income = National Income + Transfer payments. Gross Domestic Product (GDP) + NFIA = Gross National Product (GNP) Gross Domestic Product (GDP) – DEPRECIATION = Net Domestic Product (NDP) Gross National Product (GNP) – Depreciation = Net National Product (NNP) |
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