there are comparison obstacles such as: variations in income distribution amongst different countries being compared size of black market tastes and needs proportion of national income used by the government for defence.
GDP (Gross Domestic Product) is a commonly used calculator of national income and measures the economic activity in a country. Essentially, the GDP is a figure which measures the value of the goods...
Real national income : the actual quantity of goods and services produced. the standard of living depends very much on the quantities of goods and services produced. Nominal national income : the...
National income at factor cost is the measure of national income or output based on the cost of factors of production.This allows the effect of any subsidy or indirect tax to be removed from the...
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