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Q: Which of the following is not a method of estimating national income?
  • A. Expenditure method
  • B. Output method
  • C. Matrix method
  • D. Income method
Correct Answer: Option C - To calculate National Income, there are three methods- 1. Output Method– also called value added method, it measures value added by each industry in an economy. 2. Income Method– also called factor income method, used to calculate all income accrued to the basic factors of production used in producing national product. 3. Expenditure Method– also known as Final Product Method, used to measure final expenditures incurred by production units for producing final goods and services within a territory during a given time period. where as Matrix method is used in Civil Engineering for solving equations.
C. To calculate National Income, there are three methods- 1. Output Method– also called value added method, it measures value added by each industry in an economy. 2. Income Method– also called factor income method, used to calculate all income accrued to the basic factors of production used in producing national product. 3. Expenditure Method– also known as Final Product Method, used to measure final expenditures incurred by production units for producing final goods and services within a territory during a given time period. where as Matrix method is used in Civil Engineering for solving equations.

Explanations:

To calculate National Income, there are three methods- 1. Output Method– also called value added method, it measures value added by each industry in an economy. 2. Income Method– also called factor income method, used to calculate all income accrued to the basic factors of production used in producing national product. 3. Expenditure Method– also known as Final Product Method, used to measure final expenditures incurred by production units for producing final goods and services within a territory during a given time period. where as Matrix method is used in Civil Engineering for solving equations.