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__________
- ₤ 74,000m
-
₤ 66,000m
- ₤ 60,000m
- ₤ 14,000m
The correct answer is: B
Explanation
National Income = Expenditure - Indirect taxes - Capital consumption (Depreciation)
N.I = 80,000 - 8,000 - 6,000 = ₤ 66,000m