how is the national income calculated in a country
Answers
Gross national income is the value of all income (also called output or national output) produced by a country's residents (both citizens and foreign residents) within its geographical borders, plus net receipts of income (wages, salary, and property income) from abroad.
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Answer:
Gross national income is the value of all income (also called output or national output) produced by a country's residents (both citizens and foreign residents) within its geographical borders, plus net receipts of income (wages, salary, and property income) from abroad.
Explanation:
National Income Accounting Methods
The national income is calculated by adding the total output of the companies in the economy. The method shows the contribution of each sector to the national income, hence demonstrating the importance of different sectors relative to each other.