If the national income is measured as an aggregate value of all final goods and services produced by all the firms it is called _______.

Product Method

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Income Method

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Expenditure Method

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None of the above

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Solution

The correct option is A Product Method
National income is measured as an aggregate value of all final goods and services produced by all the firms it is called product method.

Product method: in this method national income is measured as money value of all final goods and services produced in an economy during a year. Final goods here refer to those goods which are directly consumed and not used in further production process.

Suggest Corrections

Similar questions

The market value of all final goods and services produced in a year inside the boundary of a nation is called ______.

Consider the following statements: -

1. National disposable income includes Net National Product at Market prices only.

2. GDP is a measure of National Income/ National output and National expenditure produced in a particular country.

3. GNP includes the value of all goods and services produced by nationals whether in the country a abroad.

4. GNP does not include dividends and interest from abroad in Income.

Which of the above statements is are correct?

The total money value of all final goods and services produced in a country in a year is known as:

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