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Items Excluded in GDP

In which type...

Question

In which type of economy, domestic income will be equal to national income?

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Solution

Domestic income will be equal to national income in Closed Economy.

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Q. In which type of economy, domestic income is equal to national income?

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Q. Mention the situation in which following equations will hold true:
(i) National Income

=

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(ii)

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(v) Domestic Income is greater than National Income.

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