How do we calculate the total income of a country??

Asked by Jaydip | 31st May, 2017, 01:05: PM

Expert Answer:

The total income is the income of all the residents of a country. This total income is called the gross national product (GNP). This implies the money value of all the final goods and services produced by normal residents of a country during a period of a year. Here the term national signifies that production of normal residents of the country is to be included even if they are outside the domestic territory of country.   

Answered by Tharageswari S | 31st May, 2017, 03:26: PM

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