Question

Product method of calculating national income

Answer 1

Answer:

Hello mate, answer is here!!

Mark me as BRAINLIST!!

Step-by-step:

There are three ways of calculating GDP - all of which in theory should sum to the same amount:

National Output = National Expenditure (Aggregate Demand) = National Income.

(i) The Expenditure Method - Aggregate Demand (AD)

GDP = C + I + G + (X-M) where.

The Income Method – adding together factor incomes.

Mark me as BRAINLIST!!