Question : The Gross domestic product (GDP) estimation method measuring the aggregate value of goods and services produced by the firms is called _______.
Option 1: expenditure method
Option 2: consumption method
Option 3: income method
Option 4: product method
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Correct Answer: product method
Solution : The correct answer is the product method.
One method of calculating a nation's national income is the product or value-added method. The output or inventory method is another name for this system. It shows how each producing unit contributes to the production process. Value-added is the extra value that a company adds to a raw material through its production processes.
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Question : ____________ measures the aggregate production of final goods and services taking place within the domestic economy during a year.
Question : If we deduct depreciation from GNP (gross national income), the measure of aggregate income that we obtain is called _____________.
Question : Which of the following is not a method of measuring national income?
Question : Which of the following is not one of the methods of national income estimation?
Question : Gross National Product - Depreciation Allowance = ?
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