单词 | real national income |
释义 | real national income The national income deflated by a suitable price index. This shows the level of real spending the country can afford. This is affected both by changes in its real productivity and by changes in the terms of trade. If a country's real production grows by 3 per cent, but it imports and exports amounts equal to a quarter of its national income and its terms of trade worsen by 10 per cent, the increase in real national income is only 1/2 per cent (= [3 - (104)] per cent). |
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