The total income of all the citizens of a country is called ____ of the country.

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Detailed Solution

The total income of all the citizens of a country is called national income of the country.
The national income of a country is a term used to define the total income of a country. It is the total income earned by all the individuals in the country. It is used to compare one nation with the other one. The other most significant use of income is to calculate the country's per capita income or average income. The average income is given more preference over total income to be used as an attribute to compare two nations. It is so because different nations have different populations and varying workforces. The total income may create confusion about one country performing better than the other even if the population of the other is less than the first one.

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