Economics · Methods of Estimating National Income
In the Value Added Method of estimating national income, which precaution is taken to avoid the problem of double counting?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Include only the value of final goods and services OR sum the value added at each stage of production✓
- 2Include only factor income payments made to land, labour, capital, and entrepreneurship
- 3Sum total private final spending plus government consumption spending
- 4Subtract net imports from gross domestic output at factor cost
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Include only the value of final goods and services OR sum the value added at each stage of production
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