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
New: SSC MTS 2024 Application Form OUT; Direct Link
Don't Miss: Month-wise Current Affairs | Upcoming Government Exams
New: Unlock 10% OFF on PTE Academic. Use Code: 'C360SPL10'
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.
Application | Cutoff | Selection Process | Preparation Tips | Eligibility | Exam Pattern | Admit Card
Question : The product method used to calculate the annual value of goods and services produced is also called___________.
Question : Which of the following options does not constitute a national income measurement method?
Question : If we sum the gross value added of all the firms of the economy in a year, we get a measure of the value of the aggregate amount of goods and services produced by the economy in a year. Such an estimate is called ______.
Question : In the product method for measurement of national income, we need to deduct the value of intermediate goods to ____.
Question : If we deduct depreciation from GNP the measure of aggregate income that we obtain is called _____.
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile