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.
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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