Economics · Economy

Which of the following does the National Income Accounting Identity represent?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1It represents the relationship between Gross National Product (GNP) and Gross Domestic Product (GDP).
2It represents the difference between disposable income and personal savings.
3It represents the proportion of national income allocated to different sectors of the economy.
4It represents the equality between total expenditures and total income in an economy.✓

Correct answer

It represents the equality between total expenditures and total income in an economy.

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