Teaching UGC NET Mock Test Series 2025 (Paper 1 & 2) General Knowledge Economy National Income Accounting
Which of the following is Incorrect regarding the Product method of National Income Accounting of a country?
1
Self-consumption service are not to be included in this calculation.
2
As per the method, national income is the addition of total consumption & total savings.
3
It focuses on total value added by all components in production.
4
Net indirect taxes are excluded while calculating national income.