Methods of computing national income are ________.

product, outlay and income methods

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balance of payments, income and consumption methods

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saving, investment and income methods

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outlay, depreciation and production methods

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Solution

The correct option is A product, outlay and income methods
National income can be estimated using three methods, namely, product method, outlay (expenditure) method and income method.

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Similar questions

(a) Why are pensions included in national income but not old age pensions ?

(b) Calculate gross domestic product at market price using production method and income method:

Group A		Group B
1)	Income method	a)	Personal income – direct taxes
2)	Unemployment allowance	b)	Money value of goods and services
3)	Disposable Income	c)	Factor cost method
4)	National Income	d)	Personal income subsidy
5)	NNP_(MP)	e)	Transfer payment
		f)	GNP_(MP) - Depreciation
		g)	Output method
		h)	Transfer income

Given, the consumption function, C = 150 + 0.6Y, where C = consumption expenditure, Y = income and investment expenditure = Rs 2,000. Calculate:

(i) Equilibrium level of national income

(ii) Consumption at equilibrium level of national income

(iii) Saving at equilibrium level of national income

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