Question : The GDP estimation method measuring the aggregate value of factor payments is called ______.

Option 1: product method

Option 2: Value added method

Option 3: expenditure method

Option 4: income 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 : ______ is the market value of all final goods and services produced within a domestic territory of a country measured in a year.

Option 1: Gross margin

Option 2: Gross Domestic Product (GDP)

Option 3: Net National Product (NNP)

Option 4: Gross National Product (GNP)