22. GNP is the aggregate money value of all the final goods and services produced in a country in a year.
23. Personal consumption expenditure is annual personal consumption expenditure of the people.
24. MNP = GNP - GDP
25. All expenditures in a year are called gross domestic private...
1. According to Ackley's definition individul income depends upon five factors.
2. a labourer gets his income in the form of wages.
3. Entrepreneur gets his income in the form of profit.
4. The reward given for use of land is interest.
5. According to Ackley's definition individual income...