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Question : The product method used to calculate the annual value of goods and services produced is also called___________.

Option 1: value added method

Option 2: income method

Option 3: expenditure method

Option 4: depreciation method


Team Careers360 13th Jan, 2024
Answer (1)
Team Careers360 21st Jan, 2024

Correct Answer: value added method


Solution : The correct answer is the value-added method .

The value-added or output methods are other names for the product method. GDP is computed using the product approach, which adds up the gross value added across all industries (resident sectors) at different production phases. This method helps to estimate GDP at the level of production.

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