Measures of national income as well as output

A quality of measures of national income in addition to output are used in economics to estimate total economic activity in a country or region, including gross domestic product GDP, gross national product GNP, net national income NNI, in addition to adjusted national income NNI adjusted for natural resource depletion – also called as NNI at factor cost. any are specially concerned with counting the statement amount of goods and services presents within the economy and by various sectors. The boundary is ordinarily defined by geography or citizenship, and this is the also defined as the total income of the nation and also restrict the goods and services that are counted. For instance, some measures count only goods & services that are exchanged for money, excluding bartered goods, while other measures may attempt to increase bartered goods by imputing monetary values to them.

National accounts

Arriving at a figure for the total production of goods and services in a large region like a country entails a large amount of data-collection and calculation. Although some attempts were submission to estimate national incomes as long previously as the 17th century, the systematic keeping of national accounts, of which these figures are a part, only began in the 1930s, in the United States and some European countries. The impetus for that major statistical try was the Great Depression and the rise of Keynesian economics, which prescribed a greater role for the government in managing an economy, and made it fundamental for governments to obtain accurate information so that their interventions into the economy could proceed as well-informed as possible.