net national income

Definition

The sum of income taken from all sectors, including personal, business and government. Also called NNI.

The formula for calculating net national income is: NNI = C + I + G + NX + NFF - IT - D

Where: C = Consumption, I = Investments, G = Government spending, NX = Net exports (calculated by subtracting imports from exports), NFF = Net foreign factor income, IT = Indirect taxes, D = Depreciation.

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