What is the Income System to calculate GDP?
Answer (1)
20th Jan, 2023
In this system, estimation is taken on overall earned revenue received in production factors (i.e., such as labour, capital, etc.) within the boundaries of the country.
GDP = A + T - S,
Where, A= GDP at Factor expenses
T= Taxes
S= Subsidies
Comments (0)
Related Questions
What is GDP?
9 Views
What happens when GDP increases?
10 Views
