National Income accounts e Records the value of national income that results from production and expenditure Producers earn income from buyers who spend money on goods and services The amount of expenditure by buyers the amount of income for sellers the value of production National income is often defined to be the income earned by a nation 's factors of production. Copyright 2012 Pearson Education. All rights reserve 13-3Copyright © 2012 Pearson Education. All rights reserved. 13-3 National Income Accounts • Records the value of national income that results from production and expenditure. – Producers earn income from buyers who spend money on goods and services. – The amount of expenditure by buyers = the amount of income for sellers = the value of production. – National income is often defined to be the income earned by a nation’s factors of production