Question

Economic growth is measured in terms of ____________ of the economy.

• A. employment aggregates
• B. national income aggregates
• C. both A & B
• D. none of the above

Answer 1

Answer: (B)

national income aggregates

National Income refers to the income of the whole economy including all the sectors at a given point of time. It only estimates the income of all the sectors and does not say the exact figure as it is impossible to tell the exact income figure of an economy. Therefore, national income is only the imputed figure of the income of the economy. Economic growth of any nation is measured in national income aggregates of that nation.