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Question : The GDP estimation method measuring the aggregate value of factor payments is called ______.

Option 1: product method

Option 2: Value added method

Option 3: expenditure method

Option 4: income method


Team Careers360 15th Jan, 2024
Answer (1)
Team Careers360 21st Jan, 2024

Correct Answer: income method


Solution : The correct option is the income method .

The GDP estimation method measuring the aggregate value of factor payments is called the " income approach." The income approach calculates GDP by summing up all the incomes earned by individuals and businesses in the production of goods and services within a country's borders. This method provides a perspective on the value generated in the economy from the standpoint of those who contribute to its production.

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