What is the meaning of national …
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Preeti Dabral 1 year, 2 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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