BIM Macroeconomics note TU

Personal Income, Disposable Income, Per Capita Income, and Personal Saving

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Here in this article, we have tried to define personal income, disposable income, per capita income, and personal income. Personal Income (PI) Personal income can be defined as the income obtained by all individuals and households of a nation from all the possible formal sources before payment of direct personal tax or income tax during […]

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Relationship between Concepts of National Income at Market Price and Factor Cost

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After discussing several key concepts of national income at market price as well as at factor cost, in this article, we attempt to establish the relationship between concepts of national income at market price and factor cost. As we know that various concepts of national income can be measured in terms of market price as

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Basic Terminologies of National Income

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The key terminologies/(basic terminologies of National Income) related to national income are briefly explained below. Domestic Territory of a Country United Nations states that economic or domestic territory is the geographical territory, governed by a government within which, individuals, goods, and capital distribute freely. It includes the following geographic or electoral boundaries: Normal Residents of

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