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

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 ______.

Option 1: Net national product

Option 2: National income at factor price

Option 3: Net value added

Option 4: Gross domestic product

Question : Which of the following options does not constitute a national income measurement method?

Option 1: Credit method

Option 2: Product method

Option 3: Income method

Option 4: Expenditure method

Question : In the product method for measurement of national income, we need to deduct the value of intermediate goods to ____.

Option 1: analyse factors of production

Option 2: avoid over consumption

Option 3: avoid double counting

Option 4: estimate aggregate value of expenditure

Question : If we deduct depreciation from GNP the measure of aggregate income that we obtain is called _____.

Option 1: Gross domestic product

Option 2: National income

Option 3: Private income

Option 4: Net national product