Which of the following is true in regard

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Target Exam

CUET

Subject

Economics

Chapter

Macro Economics: National Income Accounting

Question:

Which of the following is true in regards to "National Income"?

Options:

National income = Domestic income + Net factor income from abroad

National income = Foreign income + Factors of production

National income = Domestic income + NRI's income + Embassy's income

None of the above

Correct Answer:

National income = Domestic income + Net factor income from abroad

Explanation:

NATIONAL INCOME is the sum total of domestic income and net factor income from abroad.