define national income. what is the difference between national income and domestic income?
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define national income. what is the difference between national income and domestic income?
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Simply put, income generated by residents and non-residents (i.e., foreigners) within domestic territory of a country is called domestic income and income generated by normal residents within and outside the country is called national income.
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national income is the total income of the country where as domestic income is the income of an independent.
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