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National Income Accounting

Question
CBSEENEC12013344
Wired Faculty App

Show the sum of value added is equal to sum of factor incomes.

Solution
Since value added by joint efforts of factors of production in the production process is distributed among factors as factor income in the form of rent, wages, interest and profit, therefore, sum of value added is equal to sum of factor incomes.

Some More Questions From National Income Accounting Chapter

Briefly explain the following basic concepts related to NI:
Final Goods and Intermediate Goods. 

Briefly explain the following basic concepts related to NI:
Consumption Goods and Capital Goods

Briefly explain the following basic concepts related to NI:
Flow and Stock Concepts

Briefly explain the following basic concepts related to NI:
Gross Investment and Net Investment

Briefly explain the following basic concepts related to NI:
Domestic (Economic) Territory

Briefly explain the following basic concepts related to NI:
Normal Residents

Briefly explain the following basic concepts related to NI:
National Income at Current and Constant Prices (Nominal and Real NI).

Briefly explain the following basic concepts related to NI:
Consumption of Fixed Capital (Depreciation).

Briefly explain the following basic concepts related to NI:
Factor Cost vs. Market Price (or Net Indirect Taxes)

Briefly explain the following basic concepts related to NI:
Net Factor Income from Abroad (NFIA)

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