The national income of a country for a given period is equal to the

National Income is a crucial macroeconomic concept. It represents the total value of all final goods and services produced within a country's borders during a specific period (usually a year). Let's break down why the correct answer is (d) and why the others are incorrect: (d) money value of final goods and services produced: This is the correct definition. It focuses on the market value of what's actually produced, avoiding double-counting (which is why 'final' goods and services are emphasized). (a) total value of goods and services produced by the nationals: This is incorrect because national income focuses on production within the country's borders, not by its citizens regardless of location. A French citizen working in India contributes to India's national income, not France's. (b) sum of total consumption and investment expenditure: While consumption and investment are components of GDP (and thus related to national income), they don't equal national income directly. GDP also includes government spending and net exports. (c) sum of personal income of all individuals: Personal income is a part of national income, but it excludes corporate profits, government revenue, and other factors. It's a distribution of national income, not the total value of production. Therefore, understanding the core definition of national income – the monetary value of all final goods and services produced within a country – is key to answering this question.