A. Definition of National Income
National income is the value of production of goods and services produced by the State within a certain period.B. Concepts of National Income 1. Gross Domestic Product (Gross Domestic Product = GDP)
GDP is the total value of final goods and services produced by an economy that dlam certain period is calculated based on market value.2. Gross National Product (Gross National Product = GNP)
Gross National Product = Gross Domestic Product + Net Income of Foreign Affairs3. Net National Product (Net National Product = NNP)
Net National Product = Gross National Product - Depreciation + Capital substitutes4. Net National Income (Net National Income = NNI)