Which term is used for the total net value of all goods and services produced in a country in specified period of time ?
Correct answer: A. National income
- A. National income
- B. Public income
- C. Local income
- D. Gross income
Explanation
National income broadly measures the net value of goods and services produced by a country during a given period. Strictly, national-income accounting distinguishes it from gross domestic product, but national income is the only suitable option given.
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