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Question
National Income is the sum of factor incomes accruing to:
Options
Nationals
Economic territory
Residents
Both residents and non-residents
MCQ
Solution
Residents
Explanation:
In accounting years, national income is the sum of factor incomes earned by ordinary people of a country in the form of rent, wages, interest, and profit.
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Aggregates Related to National Income - Gross National Product (GNP)
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