Question

Explain the income method and expenditure method of calculating national income​

Answer 1

Answer:

The expenditure method is the most common way of calculating a country's GDP. This method adds up consumer spending, investment, government expenditure, and net exports. Aggregate demand is equivalent to the expenditure equation for GDP in the long-run. The alternative method to calculate GDP is the income approach.

Answer 2

Answer:

Answer:

The expenditure method is the most common way of calculating a country's GDP. This method adds up consumer spending, investment, government expenditure, and net exports. Aggregate demand is equivalent to the expenditure equation for GDP in the long-run. The alternative method to calculate GDP is the income approach.

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