Question

Explain the trends and structure of National Income.

Answer 1

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 also called as NNI at factor cost.

Answer 2

Explain the trends and structure of National Income.

• Both the national income and the per capita income are first calculated at current prices before being adjusted to account for changes in the level of prices over that time period. The level of living of the Indian population is similarly impacted by this increase in national income.
• The composition of a nation's national income, or GDP, as well as changes in the sectoral contributions to the GDP, are referred to as its structure and trend. India's GDP is comprised of its investment, consumption, exports, and imports. The consumer confidence index, which gauges consumers' confidence or optimism (or pessimism) in the economy, and the unemployment rate, which calculates the proportion of the labour force that is not employed, are the other two important economic trends.
• The national and global GDP are predicted to increase more favourably in 2021, but the stock market is predicted to decline. This is the mirror image of the current pattern.
• National income is really the total dollar value of all finished products and services generated in a nation over the course of a fiscal year. Calculating national income is essential because it shows how well our economy is doing overall for that given year.

#SPJ6