Question : Which of the following is not a method of measuring national income?
Option 1: Intermediate goods method
Option 2: Expenditure method
Option 3: Income method
Option 4: Product method
Answer (1)
23rd Jan, 2024
Correct Answer: Intermediate goods method
Solution : The correct option is the Intermediate goods method .
Intermediate goods, also known as producer goods or semi-finished goods, are goods used in the production of final goods.
The methods of measuring national income are:
- The expenditure method is used to calculate GDP (gross domestic product). It is the combination of consumption, investment, government spending, and net exports.
- The income method contains profits, wages, interest on capital, etc.
- The product method is also known as the value-added method. This can calculate national income by adding value to the product.
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