Q: The national income of a country for a given period is equal to the
a) total value of goods and services produced by the nationals
b) sum of total consumption and investment expenditure
c) sum of personal income of all individuals
d) money value of final goods and service produced
Correct Answer: Option (a)
- NNP at factor cost ≡ National Income (NI) and no other option mentions Nationals. Hence, option (a) is correct.
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