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
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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