The national income off a country can be estimated through the
Answer Details
The national income of a country can be estimated through the output approach. This approach involves calculating the total value of goods and services produced by all sectors of the economy within a given period, usually a year. This value is known as Gross Domestic Product (GDP) and is considered a measure of the economic activity and size of a country's economy. The output approach involves calculating the value of all final goods and services produced by different sectors of the economy such as agriculture, manufacturing, and services. By adding up the value of all final goods and services produced, we get an estimate of the total output or GDP of the country.