Question
Download Solution PDFExports of mangoes by India are a part of _______ method of measurement of its national income.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is expenditure. Key Points
- Exports of mangoes by India contribute to the expenditure method of measuring its national income because it represents a portion of the country's total exports, which is a component of its overall expenditure.
- The expenditure method of measuring national income is one of three primary methods used, along with the income method and the value-added method.
Additional Information
- The income method measures national income by adding up all of the income earned by individuals and businesses in a country, while the value-added method calculates national income by subtracting the cost of inputs from the revenue generated by businesses.
- Circular income refers to the flow of money between different sectors of an economy.
- Value-added measures the increase in value of a product at each stage of production, rather than simply the final sale price.
Last updated on May 28, 2025
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