Answer: Depreciation or consumption of fixed capital
Explanation:
The National Income is the total income earned in a country in a given period thereby making it the GDP because it is assumed that all income in the economy is spent on the expenditures in the same economy.
When calculating the National Income, the depreciation or consumption of fixed capital is not included. Included rather are things like; Rent, Profits/losses, Wages and Pensions.
