Question
The sum total of incomes received for the services of labour, land or capital in a country is called :
Answer: Option A
Answer: (a)
The Gross Domestic Income (GDI) is the total income received by all sectors of an economy within a nation. It includes the sum of all wages, profits, and taxes, minus subsidies.
Since all income is derived from production (including the production of services), the gross domestic income of a country should exactly equal its gross domestic product (GDP).
Was this answer helpful ?
Answer: (a)
The Gross Domestic Income (GDI) is the total income received by all sectors of an economy within a nation. It includes the sum of all wages, profits, and taxes, minus subsidies.
Since all income is derived from production (including the production of services), the gross domestic income of a country should exactly equal its gross domestic product (GDP).
Was this answer helpful ?
More Questions on This Topic :
Question 4. When will demand become a grant?
....
Question 10. Depreciation is loss in value of ________
....
Latest Videos
Latest Test Papers
Submit Solution