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What is the meaning of national …

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What is the meaning of national income
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Preeti Dabral 1 year, 8 months ago

Real national income refers to national income at constant prices. It is also called Real GDP.

Real National Income  or Real GDP = {tex}Q \times P^*{/tex}

where Q = Qty of final goods and service produced during an accounting year

and {tex}P^* {/tex} = Prices prevailing during the base year

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