in economics, is there a distinction between income and national income?
2006-06-07 22:24:15 · 5 answers · asked by Anonymous in Entertainment & Music ➔ Comics & Animation
Income is a microeconomic theory. It means the income earned by an individual.
National income is a macroeconomic concept. It is the value of all final goods and services produced by the normal residents of a country. It includes net factor income from abroad.
2006-06-12 15:08:09 · answer #1 · answered by Anonymous · 0⤊ 0⤋
yes income could be off any person where as national income means income of nation as a whole
2006-06-08 05:41:21 · answer #2 · answered by Anonymous · 0⤊ 0⤋
yes income means ur personal income but national income is the in come of all ppl taken together. (i hope this is the answer)
2006-06-08 05:28:32 · answer #3 · answered by ruchi 2 · 0⤊ 0⤋
I am not sure but it depends upon microeconomics or macroeconomics.
2006-06-08 05:41:19 · answer #4 · answered by smilingface 3 · 0⤊ 0⤋
ofcourse.
2006-06-08 05:27:00 · answer #5 · answered by dirk_vermaelen 4 · 0⤊ 0⤋