Assertion (A): Value Added Method, Income Method and Expenditure Method are three different methods to measure the National Income
Assertion (A): Value Added Method, Income Method and Expenditure Method are three different methods to measure the National Income.
Reason (R): Production, Income and Expenditure are three different phases of circular flow of income.
Alternatives:
(a) Both Assertion (A) and Reason (R) are True and Reason (R) is the correct explanation of Assertion (A).
(b) Both Assertion (A) and Reason (R) are True and Reason (R) is not the correct explanation of Assertion (A)
(c) Assertion (A) is True but Reason (R) is False.
(d) Assertion (A) is False but Reason (R) is True.
Anurag Pathak Changed status to publish December 9, 2023
Ans – (a)
Explanation:-
Yes, there are only three methods (product, income and expenditure) to calculate the national income. Because three different phases of circular flow of income is production, income and expenditure.
Anurag Pathak Changed status to publish December 9, 2023
