Question

What is meant by term triple identity ? In terms of national income estimation

Answer 1

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In the context of national income estimation triple identity refers to the three formulas to find the national income that are...

"" Value added methods --

That method which leads to the cost of production all over goods that are being demanded in an economy ..

"" Income method --

That method who clear the national income by analysing the income factor income earned by the normal residents of a country ..

"" Expenditure method --

That method who show the total expenditures made in an economy to done transactions...

And when all threads get equal it became triple identity of the national income...

Production = Income = Expenditure

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Answer 2

It is the three formulas of calculating national income ,

Value added method

Expenditure method

Income method

When income is sane by all method, it called triple identity.