Question : Which of the following precautions are taken while calculating national income from income method?

Option 1: Transfers income are not included in the national income.

Option 2: Income from sale of secondhand goods will not be included.

Option 3: Income from sale of shares, bonds and debentures will not be included.

Option 4: All of the above.

Question : Which of the following are the precautions of value added method?

Option 1: Intermediate goods or not to be included in the national income.

Option 2: Change the stock of goods will be included.

Option 3: Imputed value of owners occupied houses should be included.

Option 4: All of the above.

Question : Which of the following is included in the calculation of GDP?

Option 1: Intermediate goods

Option 2: Final goods and services

Option 3: Secondhand goods

Option 4: Transfer payments

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

Question : Which of the following are the precautions of value added method?

Option 1: Sale and purchase of second hand goods is excluded.

Option 2: Production of service for self consumption or not included. (Housewives, etc.)

Option 3: Production of goods for self consumption will be included.

Option 4: All of the above.