DMPQ: Explain in detail the methods to calculate National Income.
There are 3 methods to calculate the National income.These methods are given by Simon Kuznets. PM (Product Method) or Product service method. IM (Income Method) CM (Consumption Method) or expenditure method. In India the combination of Product method and Income methods is used for calculating the National Income. PRODUCT METHOD: NI = GDP – income earned in … Read more DMPQ: Explain in detail the methods to calculate National Income.