Use the following information given to answer this question
Total of all expenditure incurred during the year 80,000m
Indirect taxes on goods and services 8,000m
Capital consumption 6,000m
National income is__________
Total of all expenditure incurred during the year 80,000m
Indirect taxes on goods and services 8,000m
Capital consumption 6,000m
National income is__________
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Correct Answer: Option B
Explanation:
National Income = Expenditure - Indirect taxes - Capital consumption (Depreciation)
N.I = 80,000 - 8,000 - 6,000 = ₤ 66,000m
National Income = Expenditure - Indirect taxes - Capital consumption (Depreciation)
N.I = 80,000 - 8,000 - 6,000 = ₤ 66,000m