national income definition

  • noun:
    • the sum total web worth of all goods and services created within a nation over a specified duration, representing the sum of wages, earnings, rents, interest, and pension payments to residents of nation.
    • the full total worth of all earnings in a nation (earnings and profits and interest and rents and pension repayments) during certain duration (usually 1 year)

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  • Definition for "national income"
    • the sum total web worth of all goods…
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