Question

In the context of national income accounting, which of the following equations is incorrect? Consider C=Consumption, I= Investment, G= Government Expenditure, S= Savings, T-Tax, Xn-Net Exports ​

Answer 1

Answer:

National Income = Total Rent + Total Wages + Total Interest + Total Profit. goods and services produced in a country during a year is obtained, which is called total final product. This represents Gross Domestic Product ( GDP ).