Question

06)
What is National Income? State different methods of measuring National Income. ​

Answer 1

Answer:

A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product, gross national product, net national income, and adjusted national income.

The national income of a country can be measured by three alternative methods:

(i) Product Method

(ii) Income Method, and

(iii) Expenditure Method. .

Explanation:

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