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What is real income?
  • a)
    Income measured at market prices.
  • b)
    Income after deducting direct taxes.
  • c)
    Income measured at constant prices.
  • d)
    Income after deducting indirect taxes.
Correct answer is option 'C'. Can you explain this answer?
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What is real income?a)Income measured at market prices.b)Income after ...
Real income is national income expressed in terms of a general level of prices of a particular year taken as a base. It adjusts for changes in price levels over time.
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What is real income?a)Income measured at market prices.b)Income after deducting direct taxes.c)Income measured at constant prices.d)Income after deducting indirect taxes.Correct answer is option 'C'. Can you explain this answer?
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