APPSC Miscellaneous-2023 National Income represents the sum of factor incomes (wages, salaries, rent, interest, profit) accruing to the normal residents of a country in a year. Alternatively, using the product method, it is derived from the final market value of all goods and services produced.
National Income refers to
Asked in APPSC Group II Prelims 2018 · Topic: National Income & Gross Domestic Product (Definition and Importance of National Income)
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Answer: A. Current market value of all final goods and services produced in a year
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