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
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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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Question : The GDP estimation method measuring the aggregate value of factor payments is called ______.
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 : Which of the following options does not constitute a national income measurement method?
Question : In the product method for measurement of national income, we need to deduct the value of intermediate goods to ____.
Question : ______ is the market value of all final goods and services produced within a domestic territory of a country measured in a year.
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