National Income National income is the process of counting the value of flow between sectors and then summing them to find the total value of economic activity in an economy. Income as an indicator of progress was tried by many before the idea of the Gross Domestic Product (GDP). GDP is the most commonly used measure of economic activity, and its idea was put forward by the US economist Simon Kuznets in 1934. The method tries to calculate National Income The method tries to calculate a country’s income at domestic…
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