National Income

National income is the money value of the total output of a country or the total income of a country over a period of time.

National income is the money value of all the goods and services produced in a country.

Alternatively, national income is the total income paid for producing goods and services, usually in a year.

It is in this lucid manner that this book will teach you national income.

It clearly explains the concepts of national income like the gross domestic product, net national product, personal income, disposable income and per capita income.

It analyzes the methods of measuring the national income. They include the output approach, income approach and expenditure approach.

It appraises the uses of the national income estimates. It throws light on the problems of measuring the national income.

It lays emphasis on the elementary theory of income determination. It clearly explains the circular flow of income, savings, consumption and investment.

And it identifies the multiplier. It discusses the inflationary gap and deflationary gap.