Question : According to ___________________, factor of production by the way of wages, profit, rent, interest etc are summed up to obtain the national income.
Option 1: Income method
Option 2: Expenditure method
Option 3: Value added method.
Option 4: All of the above.
Answer (1)
23rd Jan, 2024
Correct Answer: Income method
Solution :
According to income method, factor of production by the way of wages, profit, rent, interest etc are summed up to obtain the national income. Income method measures national income from the perspective of factor income. It includes income received by all the residents of a country for productive purposes.
Hence, Option A is correct.
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