Answer:
By Income Method : NDP fc = COE + OS + MI
By Expenditure Method : GDP mp = PFCE + GFCE + GDCF + NX
Explanation:
National Income is the total value of goods & services , produced by an economy during a given period of time.
It can be calculated by Expenditure or Income method, aa total value of goods & services produced by an economy = total expenditure by entire economy = total income by entire economy (∵ one person expenditure is other person income)
By Income Method :
NDP fc [Net Domestic Product at factor cost] = Compensation of Employees + Operating Surplus + Mixed Income
By Expenditure Method :
GDP mp [Gross Domestic Product at market price] = Private Final Consumption Expenditure + Government final consumption expenditure + gross domestic capital formation + net exports
