Determining_National_Income外文翻译.docVIP

Calculating National Income There are three methods for calculating the income of a nation and all three will give us the same answer. The Income, Value Added and the Expenditure Method. The Expenditure method: C+I+G+X-M=GDP @ Mkt P Income earned by Irish factors abroad VAT + Subsidy Income earned by foreign factors in Ireland GDP @ factor cost Net factor income from abroad +NFI from abroad GNP @ factor cost Depreciation NNP @ factor cost = NI The important point in the remain methods is two avoid double accounting. Thus in the Income Method we exclude all