Teaching MPPSC Assistant Professor Mock Test Series 2025 General Knowledge Economy National Income Accounting
Consider the following statements about the 'Output method' of calculating National Income.
1. It calculates national income in terms of final goods and services produced in an economy during a particular period of time.
2. It takes into account output and services by each producing enterprise in the domestic territory of a country during a given accounting period.
3. It takes into account intermediate goods used in the production as well.
Which of the statements given above is/are correct?
1
1 and 2 only
2
1 and 3 only
3
1 only
4
2 and 3 only