CA Foundation Exam > CA Foundation Questions > National income refers to:a)The sum total of ...
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National income refers to:
- a)The sum total of domestic income and net factor income from abroad
- b)Factor incomes only
- c)Income of only normal residents of the country
- d)All of these
Correct answer is option 'A'. Can you explain this answer?
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National income refers to:a)The sum total of domestic income and net f...
National income refers to all the given options.
Most Upvoted Answer
National income refers to:a)The sum total of domestic income and net f...
Explanation:
National income can be defined as the sum total of all factor incomes earned by normal residents of a country in a given period of time, generally a year. It includes income earned by individuals, businesses, and the government.
Net factor income from abroad:
Net factor income from abroad refers to the difference between the income earned by domestic residents from foreign investments and the income earned by foreign residents from domestic investments. It is an important component of national income.
Domestic income:
Domestic income refers to the income earned by individuals and businesses within the country's borders. It includes salaries, wages, rent, interest, and profits earned by normal residents of the country.
Normal residents:
Normal residents refer to individuals who live within the country's borders for a significant period of time, generally a year or more. They may be citizens of the country or foreigners who have been residing in the country for a long time.
Conclusion:
Therefore, national income refers to the sum total of domestic income and net factor income from abroad. It is an important indicator of a country's economic growth and development.
National income can be defined as the sum total of all factor incomes earned by normal residents of a country in a given period of time, generally a year. It includes income earned by individuals, businesses, and the government.
Net factor income from abroad:
Net factor income from abroad refers to the difference between the income earned by domestic residents from foreign investments and the income earned by foreign residents from domestic investments. It is an important component of national income.
Domestic income:
Domestic income refers to the income earned by individuals and businesses within the country's borders. It includes salaries, wages, rent, interest, and profits earned by normal residents of the country.
Normal residents:
Normal residents refer to individuals who live within the country's borders for a significant period of time, generally a year or more. They may be citizens of the country or foreigners who have been residing in the country for a long time.
Conclusion:
Therefore, national income refers to the sum total of domestic income and net factor income from abroad. It is an important indicator of a country's economic growth and development.
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National income refers to:a)The sum total of domestic income and net factor income from abroadb)Factor incomes onlyc)Income of only normal residents of the countryd)All of theseCorrect answer is option 'A'. Can you explain this answer?
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