what r 3ways to calculate national income
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16
Answer:
Sum of All these incomes constitutes national income and is a way to calculate GDP.
Formula : Net National Income = Wages + Rent + Interest + Profits.
To make it gross, we need to do two adjustments – Add depreciation of capital & Add Net Foreign Factor Income.
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The national income of a country can be measured by three alternative methods: (i) Product Method (ii) Income Method, and (iii) Expenditure Method
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