Ketki Kaushik posted an Question
February 14, 2021 • 22:33 pm 30 points
  • UGC NET
  • Economics

Explain income approach of international economics

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    Eduncle best-answer

    Dear Ketki

    International economics deals with the economic activities of various countries and their consequences.

    In other words, international economics is a field concerned with economic interactions of countries and effect of international issues on the world economic activity.

    The income approach states that all economic expenditures should equal the total income generated by the production of all economic goods and services.
    The alternative method for calculating GDP is the expenditure approach, which begins with the money spent on goods and services.

    Thank you for asking your query

     

     

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