Question

the
Differentiate blw the
income
approach
and expenditure
approach
to
measurement
of national
income. Also give
Also give the
importance
of the national income
in the economy
of a Cou
Country​

Answer 1

Answer:

The main difference between the expenditure approach and the income approach is their starting point. The expenditure approach begins with the money spent on goods and services. Conversely, the income approach starts with the income earned from the production of goods and services (wages, rents, interest, profits).