If Y = income, C = Consumption, I = Investment, X = Export and M = Import, then national income is
- Y = C - I + (x +m0
- Y = C + I + (x + m)
-
Y = C +I +(X - M)
- Y =C + I + (m - x)
The correct answer is: C
Explanation
Since national income is the gross domestic product of a country plus all the wages, salaries of its citizens abroad minus earnings of foreign citizens residing in the said country;
National Income = C + I + X - M (exports - imports)