Which of the following aggregate is called National Income?

Correct option is B

Ans. (b)
Net National Product (NNP) at factor cost is called National Income. It represents the total income earned by a country's citizens and businesses within a year.
Information Booster
1. NNP at Factor Cost Formula:
· NNP at Market Price - Indirect Taxes + Subsidies.
2. It excludes depreciation of capital goods and includes wages, rent, interest, and profits.
3. Other measures:
· GDP (Gross Domestic Product): Measures total output within a country.
· GNP (Gross National Product): Includes income from abroad.