Answer :
Final answer:
National income is GDP minus depreciation. It gives a practical view of a country's income by considering the decrease in value of capital goods.
Explanation:
The correct answer to the given question is B. National income is essentially GDP minus depreciation. The Gross Domestic Product (GDP) refers to the total value of all goods and services produced within a country in a specified period of time. Depreciation, on the other hand, is the decrease in the value of assets. Therefore, when we subtract depreciation from GDP, it gives us a practical view of a country's income as it considers the wear and tear on capital goods. It is commonly measured as Gross Domestic Product (GDP), which is the value of all final goods and services produced in the economy. Therefore, the correct option is B. GDP minus depreciation.
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