Question

The difference between the income
received from abroad for rendering factor services by the normal residents of the country to the rest of the world and income paid for the factor services rendered by
nonresidents in the domestic territory of a country is known as:

Select one:
a. Net Factor Income from Abroad
b. Capital consumption allowances
c. Depreciation
d. Subsidy

= Net Factor Income from Abroad​

Answer 1

The difference between the income received from abroad for rendering factor services and income paid for the factor services rendered by nonresidents is known as Net Factor Income from Abroad. Thus the correct  option is (B).

What is Income?

Income refers to the money received by the individual over a period of time. In Business, income refers to the revenue generated after selling the goods and services to the customers.

Net factor Income from abroad refers to the income received from aboard after providing the services  by the residents of the country to the rest of the world minus income paid for taking services from the domestic country.

Thus the correct  option is (B).

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