The Income Method can measure national income from the side of payments made to the primary factors of production in the form of rent, wages, interest and profit for their productive services in ...

In the 1930s, during the Great Depression, an economist named Simon Kuznets working with the Commerce Department was tasked by Congress to come up with a method for measuring economic change.

Explanation: Generally, there are three methods of measuring national income of a country, namely, product method (output method), income method and expenditure method. Explanation: The real ...

All three methods should yield the same figure ... GNP excludes domestic production by foreigners. Gross national income (GNI) is another measure of economic growth. It is the sum of all income ...

Method: Use national income as a starting point and adjust to ... Strengths: Provides a single summary measure that can be easily tracked over time. Weakness: Makes a subjective judgment about ...