Question

State any three main components of national income calculation in Expenditure method

Answer 1

Explanation:

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.

Answer 2

Answer:

1.National Expenditure

2.The Expenditure Method

3.The Income Method

Explanation:

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