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National income is the money value of all the final goods and services produced in a country in an accounting year. For example, if the value of a book is ₹ 5 and the total number of books produced is 1000, then the money value of the books is ₹ 5,000. We can thus find the total value of all the goods and services produced during one year. We get a single measure of the final goods and services produced by the country in that year which is nothing but the value of national income or national product.

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