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Measurement of National Income
Economics · Chapter 20 · 6. National Income
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Your path through this chapter
Visual lesson Beta
- Part 1: Value Added and Income Methods17 slides
- Part 2: Expenditure Method, Precautions and Difficulties17 slides
Flashcards Beta
30 cards for quick recall of key terms and facts.
Review the cards Step 3: Not startedPractice
72 board-style questions with instant checks: Multiple choice 24, Short answer 20, Long answer 7, Numerical 6.
Practise Step 4: Not startedChapter test Free
Short and long chapter tests in board pattern, with results and analysis.
Step 5: Not started- Chapter test (long) — Measurement of National Income · 40 marks · 100 min
- Chapter test (short) — Measurement of National Income · 20 marks · 50 min
Topics 4
- Product or value-added method: value of output, intermediate consumption, avoiding double counting
- Income method: compensation of employees, operating surplus and mixed income
- Expenditure method: private and government final consumption, gross capital formation, net exports
- Precautions and difficulties in each method of measuring national income