The national income of a country for a given period is equal to the - Neyyar App | A New Age Marketplace for Global Education

The national income of a country for a given period is equal to the

[UPSC Civil Services Exam – 2013 Prelims]

(a) total value of goods and services produced by the nationals

(b) sum of total expenditure

(c) sum of personal income of all individuals

(d) money value of final goods and services produced

Answer: (d)

Explanation:

National Income is the total monetary value of goods and services produced within the territory of the country in a given period of time.

National Income = C+I+G+ (X-M)

Here,

C – Consumption

I – Total Investment

G – Total Government Expenditure

X – Export

M – Import

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