Get the answer of: Are NNP and NNI Identical? National income is the net value of all goods and services (national product) produced annually in a nation. There are two measures of national income. One is the market price measure and the other is factor cost measure. The national income at market price has to be adjusted properly to arrive [...]
The following points highlight the three methods for measuring national income. The methods are: 1. The Product (Output) Method 2. The Income Method 3. The Expenditure Method. 1. The Product (Output) Method: The most direct method of arriving at an estimate of a country's national output or income is to add the output figures of all firms in the economy [...]
In this article we will discuss about the measures of national income. In short, national income is a measure of the money value of the goods and services becoming available to the nation from economic activity. There are three approaches to measuring this: first, as a sum of the incomes derived from economic activity these broadly divide into incomes from [...]