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UI Post-UTME Economics 2023 (Model questions) Question 20

Question 20

National Income

The value of what is produced within a country by the citizens and the foreigners is called ________

  1. A.Gross national income
  2. B.Gross domestic income
  3. C.gross output
  4. D.Net national income
Show the answer and explanation

Answer: B (Gross domestic income)

Explanation

Domestic product or income counts everything produced inside the country, whoever produces it.