3 formulas. Namely:
income method
value added method
expenditure method

Methods for Calculating National Income:

1. Income Method:
- The income method calculates national income by summing up the total income earned by individuals and businesses within a country during a specific period.
- It includes wages and salaries, profits, rents, interest, and other forms of income.
- The formula for calculating national income using the income method is:
National Income = Compensation of Employees + Operating Surplus + Mixed Income + Taxes on Production and Imports - Subsidies

2. Output Method:
- The output method calculates national income by summing up the total value of goods and services produced within a country during a specific period.
- It includes the value of final goods and services produced in all sectors of the economy.
- The formula for calculating national income using the output method is:
National Income = Value of Final Goods and Services + Taxes on Production and Imports - Subsidies

3. Expenditure Method:
- The expenditure method calculates national income by summing up the total expenditures on goods and services within a country during a specific period.
- It includes consumption expenditure, investment expenditure, government expenditure, and net exports.
- The formula for calculating national income using the expenditure method is:
National Income = Consumption Expenditure + Investment Expenditure + Government Expenditure + Net Exports

4. Value Added Method:
- The value-added method calculates national income by summing up the value added at each stage of production within a country during a specific period.
- It measures the contribution of each stage of production to the final value of goods and services.
- The formula for calculating national income using the value added method is:
National Income = Value Added by Agriculture + Value Added by Manufacturing + Value Added by Services + Taxes on Production and Imports - Subsidies

Conclusion:
The national income can be calculated using various methods, including the income method, output method, expenditure method, and value-added method. Each method provides a different perspective on the economy and helps in understanding the overall economic performance of a country. These methods use different formulas to calculate national income, taking into account factors such as income, output, expenditure, and value added. By using these methods and formulas, economists and policymakers can analyze and monitor the economic growth and development of a nation.