IndigoLearn

Please explain sir

What is the difference between national income and gross domestic product


Devatha Raghavendra

Devatha Raghavendra

CA Foundation

0

03-Jul-20 06:16

34

Answers (1)

Gross domestic product measures the value of goods and services produced within a country; the measurement includes national output, expenditures, and income. National income equals GDP plus wages, salaries, and property income of the country's residents earned abroad and at home. It also includes net taxes and subsidies receivable from abroad, according to the Organization for Economic Cooperation and Development.


Madhuri Veluri

Madhuri Veluri

Moderator

03-Jul-20 16:19