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Basically we calculate the national income on the basis of Indian economy that has been divided into 13 sub sectors under primary, secondary and tertiary sector.
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How is a method chosen for measuring National Income?
the best way of measuring the national income of a country is to divide the countries total income by dividing the total people living in that area.....
Which is used to measure directly the average standard of living across countries?
National income
What are the Importance of national income with the national income concept?
the national income is that by the means of national income v can know that how much the income of country and v can find the national income dedact the all rents allowences paymants salaries and wages
What are the difficulties in estimating national income?
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.
Explain the importance of national income?
importance of national income.
Why the national income statistic cannot good for discussing the income of developing countries?
National income is not a good statistic for discussing the income of developing countries as it includes the income of richest and the poorest. It does not represent the equality of income.
How do you get percentage of national income formula?
The percentage that variable Y accounts for is 100*Variable Y/National Income
What is the Formula for finding disposable income?
Disposable income = Total net income less fixed (unavoidable) costs such as rent, food, utilities etc.
What formula do you use to calculate national income?
The Product MethodThe Income Method or theThe Expenditure Method
How is a method chosen for measuring National Income?
the best way of measuring the national income of a country is to divide the countries total income by dividing the total people living in that area.....
Limitation of national income statistics of making international comparsion of living standards?
firstly there are lack of standardization,i.e,countries compute their national income differently. secondly different needs,tastes and consumption patterns of different countries thirdly Exchange rate,i.e, different currencies to compute national income
Which is used to measure directly the average standard of living across countries?
National income
What countries are third world in?
Africa India Cuba
What are the Importance of national income with the national income concept?
the national income is that by the means of national income v can know that how much the income of country and v can find the national income dedact the all rents allowences paymants salaries and wages
Why national income is important?
bcoz its national income
How the higher national income will contribute he growth of the economy?
A higher national income reflects an increase in demand from the country itself and exports to outside countries. This contributes to the growth of the economy by increasing employment and wages to meet these demands.
What is national income and per capita income?
National income- total income of the country Per capita income- average income of the country
