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In theoretical terms, the measurement of National Income/National Output/GDP brings us to an important identity between so-called 'Leakages' and 'Injections' in the 'ex-post' or accounting
In theoretical terms, the measurement of National Income/National Output/GDP brings us to an important identity between so-called 'Leakages' and 'Injections' in the 'ex-post' or accounting sense. Explain this concept clearly and also point out is analytical limitation (Hint: An accounting identity such as this one is of little use in economic analysis, unless we develop functional relationships between macroeconomic variables.)
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