JAMB Exam > JAMB Questions > Which of the following measures the total inc...
Start Learning for Free
Which of the following measures the total income earned by individuals and businesses within a country's borders in a given period?
- a)GNP
- b)GDP
- c)NI
- d)NNP
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Which of the following measures the total income earned by individuals...
National Income (NI) measures the total income earned by individuals and businesses within a country's borders in a specific period. It includes wages, salaries, rents, profits, and other forms of income earned from production activities.
Free Test
FREE
| Start Free Test |
Community Answer
Which of the following measures the total income earned by individuals...
Net National Income (NNI)
Definition:
Net National Income (NNI) measures the total income earned by individuals and businesses within a country's borders in a given period.
Calculation:
NNI is calculated by subtracting depreciation from the Gross National Product (GNP). It represents the total amount of goods and services produced within a country in a specific period after deducting depreciation.
Importance:
1. Reflects the overall economic performance of a country.
2. Helps in comparing the economic growth of different countries.
3. Provides insights into the distribution of income among individuals and businesses.
Difference from other measures:
NNI differs from GDP and GNP as it takes into account depreciation, which is the decrease in the value of goods and services over time. This adjustment provides a more accurate representation of the income generated within a country.
In conclusion, Net National Income is an essential economic indicator that measures the total income earned by individuals and businesses within a country's borders. It accounts for depreciation and provides valuable insights into the economic performance and income distribution of a nation.
Definition:
Net National Income (NNI) measures the total income earned by individuals and businesses within a country's borders in a given period.
Calculation:
NNI is calculated by subtracting depreciation from the Gross National Product (GNP). It represents the total amount of goods and services produced within a country in a specific period after deducting depreciation.
Importance:
1. Reflects the overall economic performance of a country.
2. Helps in comparing the economic growth of different countries.
3. Provides insights into the distribution of income among individuals and businesses.
Difference from other measures:
NNI differs from GDP and GNP as it takes into account depreciation, which is the decrease in the value of goods and services over time. This adjustment provides a more accurate representation of the income generated within a country.
In conclusion, Net National Income is an essential economic indicator that measures the total income earned by individuals and businesses within a country's borders. It accounts for depreciation and provides valuable insights into the economic performance and income distribution of a nation.
|
Explore Courses for JAMB exam
|
|
Similar JAMB Doubts
Top Courses for JAMBView all
Which of the following measures the total income earned by individuals and businesses within a countrys borders in a given period?a)GNPb)GDPc)NId)NNPCorrect answer is option 'C'. Can you explain this answer?
Question Description
Which of the following measures the total income earned by individuals and businesses within a countrys borders in a given period?a)GNPb)GDPc)NId)NNPCorrect answer is option 'C'. Can you explain this answer? for JAMB 2025 is part of JAMB preparation. The Question and answers have been prepared according to the JAMB exam syllabus. Information about Which of the following measures the total income earned by individuals and businesses within a countrys borders in a given period?a)GNPb)GDPc)NId)NNPCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for JAMB 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following measures the total income earned by individuals and businesses within a countrys borders in a given period?a)GNPb)GDPc)NId)NNPCorrect answer is option 'C'. Can you explain this answer?.
Which of the following measures the total income earned by individuals and businesses within a countrys borders in a given period?a)GNPb)GDPc)NId)NNPCorrect answer is option 'C'. Can you explain this answer? for JAMB 2025 is part of JAMB preparation. The Question and answers have been prepared according to the JAMB exam syllabus. Information about Which of the following measures the total income earned by individuals and businesses within a countrys borders in a given period?a)GNPb)GDPc)NId)NNPCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for JAMB 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following measures the total income earned by individuals and businesses within a countrys borders in a given period?a)GNPb)GDPc)NId)NNPCorrect answer is option 'C'. Can you explain this answer?.
Solutions for Which of the following measures the total income earned by individuals and businesses within a countrys borders in a given period?a)GNPb)GDPc)NId)NNPCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for JAMB.
Download more important topics, notes, lectures and mock test series for JAMB Exam by signing up for free.
Here you can find the meaning of Which of the following measures the total income earned by individuals and businesses within a countrys borders in a given period?a)GNPb)GDPc)NId)NNPCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Which of the following measures the total income earned by individuals and businesses within a countrys borders in a given period?a)GNPb)GDPc)NId)NNPCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Which of the following measures the total income earned by individuals and businesses within a countrys borders in a given period?a)GNPb)GDPc)NId)NNPCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Which of the following measures the total income earned by individuals and businesses within a countrys borders in a given period?a)GNPb)GDPc)NId)NNPCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Which of the following measures the total income earned by individuals and businesses within a countrys borders in a given period?a)GNPb)GDPc)NId)NNPCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice JAMB tests.
|
|
Explore Courses for JAMB exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup