Accounting of National Income at constant prices is known as ........

Accounting of National Income at constant prices is known as ________

Money income

Real income

Current income

Domestic income

- Option 1: Money income

- Refers to income measured in current monetary terms.

- It doesn't account for inflation.

- Option 2: Real income

- Represents income adjusted for inflation.

- Reflects purchasing power and constant prices.

- Correct in this context.

- Option 3: Current income

- Calculated at current prices of a given year.

- Subject to inflation effects.

- Option 4: Domestic income

- Total income generated within a country's borders.

- Can be at current or constant prices.

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