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INTRODUCTION National Income accounting is used in every country to determine the pace of economic activity, how rapidly output will grow, and why an economy is subject to unexpected fluctuations. National income statistics provide economists with methods of how to explain all of these and then formulate appropriate monetary or fiscal policies in order for sustainable growth of that economy. This essay explains what National Income accountants and economists understand about such statistics, and why they regard them to be useful. It further discusses a few of the many problems surrounding computation and use of the statistics. These statistics can be described as the data used by economists to numerically measure overall production of an economy for a number of purposes. It helps economists show the economic behaviour of the economy's participants. It consolidates information on some important aspects of the economy. This set of statistics allows for the calculation of various...

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