Summarising for tomorrow's test...

Maybe someone will find this useful:

0.National Output = National Expenditure (Aggregate Demand) = National Income

1.GDP (expenditure method) =C+I+G+(X-M)


2.GDP (by factor income) =Income from people employment and in self-employment +Profits of private sector companies +Rent income from land

exclude:
Transfer payments
Private transfers of money
Income that is not registered with the Inland Revenue or Customs and Excise.

3.GDP (output method) = the value of output produced by each of the productive sectors in the economy using the concept of value added.

Value added = increase in the value of a product at each successive stage of the production process.

4.GNP = GDP + Net property income from abroad (NPIA)


adopted from tutor2u