The commonly used formula for calculating GDP—the expenditure approach—is also known as the national income accounting equation. The formula is: The quantitative information associated with ...

What is the formula of National Income? The formula of National Income is: NI = C (household consumption) + G (government expenditure) + I (investment expense) + NX (net exports).

The consumption function is an economic formula that represents the relationship between total consumption and gross national income (GNI). It was first introduced by British economist John ...

For quick appraisal of this concept, let’s re-examine basic formulae for estimating GDP (National income, as invented by Simon Kuznets, a Nobel laureate, in 1935. Formula-1 defines GDP (Gross Do ...