Question

explain the components of profit in national income accounting macroeconomics

Answer 1

Explanation:

(i) Compensation of Employees i.e., wages, salaries, etc. (ii) Operating Surplus which is the business profit of both incorporated and unincorporated firms, (iii) Mixed Income of Self- employed. Conceptually, GDP at factor cost and GDP at market price must be identical.

Answer 2

Hey Mate !

components of profit in national income accounting macroeconomics:

(i) Compensation of Employees i.e., wages, salaries, etc.

(ii) Operating Surplus which is the business profit of both incorporated and unincorporated firms,

(iii) Mixed Income of Self- employed. Conceptually, GDP at factor cost and GDP at market price must be identical.

Hope it helps u !