Which of the following is not, by definition, equal to National Income?

National Product

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National Expenditure

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National Output

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National Wealth

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Solution

The correct option is C National Wealth
National Wealth is not, by definition, equal to National Income. National wealth can be defined as the difference between national assets and liabilities. National wealth is also known as national net worth. Whereas, national income can be defined as the total amount earned by an economy.

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