measured monetarily. It is an imperative macroeconomic concept, that ascertains the business level and the economic status of the nation. There are a number of measures of National Income of the country, which includes, GDP, GNP, GNI, NDP and NNP. Of these ...
The difference between domestic income and national income is the net factor income from abroad. Further, being a macroeconomic component, it determines the economic growth of a country. It acts as a framework for economic appraisals and projections. You Might Also Like: Difference Between GDP and...