Question : The total value of goods and services produced in a country during a given period is
Option 1: disposable income
Option 2: national income
Option 3: per capita income
Option 4: net national income
Correct Answer: national income
Solution : The correct answer is national income .
National income is defined as the total monetary worth of all services and products generated by a country during a certain period. In other words, it is the total of all factor revenue created within a given production year. National income is a measure of the country's economic activity.
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