National Income is the
- Net National Product at market price
- Net National Product at factor cost
- Net Domestic Product at market price
- Net Domestic Product at factor cost
Explanation
Option (b) is correct
- National Income refers to the total income earned by the normal residents of a country from all sources of production during a year, after deducting depreciation. It is measured as Net National Product at Factor Cost (NNP at FC).
