Answer:

C)

Explanation:

The given statement is related to the concept of National Income. National Income can be defined as the total value of all final goods and services produced within a country's borders in a given period of time. It includes all income earned by citizens and businesses of the country, regardless of their location.

Out of the given options, option 'C' is correct. The reasons are:

a) Personal Income: Personal income is the income that is received by individuals from all sources. It includes wages, salaries, bonuses, rental income, investment income, and government transfers. Personal income is a part of national income, but it is not the same as national income. Personal income does not take into account the income earned by businesses, while national income includes the income earned by businesses.

b) Gross Domestic Product (GDP): GDP is the value of all final goods and services produced within a country's borders in a given period of time. GDP includes the income earned by businesses and individuals, but it does not take into account the income earned by citizens and businesses outside the country.

c) National Income: National Income is the total value of all final goods and services produced within a country's borders in a given period of time. It includes all income earned by citizens and businesses of the country, regardless of their location. National income is a more comprehensive measure of the country's economic performance than GDP or Personal Income.

d) Disposable Income: Disposable income is the income that is available to individuals after paying taxes. It includes wages, salaries, bonuses, rental income, investment income, and government transfers. Disposable income is a part of personal income, but it does not take into account the income earned by businesses, while national income includes the income earned by businesses.

Hence, option 'C' is the correct answer.