In an economy, the value of inventories was $75 billion in year 1 and $63 billion in year 2. In calculating total investment for year 2, national income accountants would decrease it by $12 billion.
National Income is the value of goods and services produced by a country during a financial year. Thus, it is the net result of all economic activities of any country during a period of one year and is valued in terms of money.
National income is an uncertain term and is often used interchangeably with the national dividend, national output, and national expenditure.
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