Regression Analysis on National Income

Introduction

National income is the sum of the money value of all the commodities and services produced in a country within a particular period of time usually one year.

The question of how an economy grows could come to mind at this juncture. It the amount of goods and services produced by an economy increases. If it does not increase yearly, it is not growing, even if it is growing, the rate of growth may not be uniform among years. Therefore it may not be possible to determine the condition of the economy.

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