Questions and Answers
What is the main advantage of calculating total output in several different ways?
To arrive at a more accurate measure than would be possible with one method alone.
Which method may be most suitable for developed economies where people properly file their income tax returns?
Income method
What proportion of national income is being estimated by the expenditure method due to growing facility in its use?
Increasing proportion
In which sector is net value added estimated by the production method?
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Which sector estimates net value added using the income method?
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How is net value added estimated in the construction sector?
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Why are countries like India unable to estimate their national income wholly by one method?
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What does the commodity flow method of estimating expenditures help with?
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What is the significance of estimating national income through multiple methods?
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How can resolving differences in total output calculation methods benefit the accuracy of the measure?
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