Question

What Are The Methods To Calculate National Income

Answer 1

Product method expenditure method and income method

Answer 2

There are three methods to calculate National income: Product method, Income method and Expenditure method.

Explanation:

A National Income is the total amount of money earned within the country. There are three alternative methods to calculate the National Income of a country.  

1. Product Method

2. Income Method

3. Expenditure Method

• Product Method is just finding out the market value of all goods and services, produced in the country.
• Income Method is adding up all the Income including the wages, rents, Interests and profits.
• Expenditure Method is just adding up all the personal consumption expenditures, the gross private domestic investment, the Government purchase of goods and services and the net foreign investments.

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