Unit 2: National Income Accounting

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2.1 Circular Flow of Income & Expenditure in Two Sector, Three Sector and Four Sector Economy

A Summary of Lesson 2.2

2.2 Different Concepts of National Income: GDP, NDP, GNP & NNP at Market Price & Factor Cost, Personal Income (PI), Disposable Personal Income (DI), Per Capita Income (PCI)

2.3 Real GDP, Nominal GDP and GDP Deflator

2.4 Computation of National Income: Product Method, Income Method and Expenditure Method

2.5 Difficulties in the Measurement of National Income

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