Economics Today and Tomorrow, Student Edition
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN: 9780078747663
Author: McGraw-Hill
Publisher: Glencoe/McGraw-Hill School Pub Co
Question
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Chapter 13, Problem 21AA
To determine

To summarize:The calculation of national income accounting.

Expert Solution & Answer
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Explanation of Solution

National income accounting: National income accounting helps in measuring the overall performance of an economy dealing with the total output and income. This helps policymakers as it gives an idea of economic and social patterns.

The diagram summarizing the national income accounting is as shown below:

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