national income(redirected from Measures of national income and output)
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The total net value of all goods and services produced within a nation over a specified period of time, representing the sum of wages, profits, rents, interest, and pension payments to residents of the nation.
(Economics) economics the total of all incomes accruing over a specified period to residents of a country and consisting of wages, salaries, profits, rent, and interest
The total amount of income earned by all the people and institutions within a country from the production of goods and services (usually measured over a period of one year).
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|Noun||1.||national income - the total value of all income in a nation (wages and profits and interest and rents and pension payments) during a given period (usually 1 yr)|
value - the quality (positive or negative) that renders something desirable or valuable; "the Shakespearean Shylock is of dubious value in the modern world"