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 : 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 : The product method used to calculate the annual value of goods and services produced is also called___________.

Option 1: value added method

Option 2: income method

Option 3: expenditure method

Option 4: depreciation method

Question : If we deduct depreciation from GNP the measure of aggregate income that we obtain is called _____.

Option 1: Gross domestic product

Option 2: National income

Option 3: Private income

Option 4: Net national product

Question : Which of the following incomes will not be included in the National Income Calculation?

Option 1: Commission income of a share broker

Option 2: Individual's income from share broker sale of shares

Option 3: Income of a joker in a circus company

Option 4: Income of a commercial artist