"he national income consists of a collection of goods and services reduced to common basis by being measured in terms of money,"— Who says this?

Related MCQs

• A trade of goods and services in the exchange for other goods or services rather than for money is known as:
• The goods and services produced by one country that are sold in exchange for the second country’s own goods and services or for foreign exchange are called
• The excess of the value of imports of goods and services over the value of exports of goods and services is called:
• The data collection for national income estimation is conducted in India by—
• The value of the output of all goods and services produced within a nation's borders, normally given as a total for the year. It thus includes the production of foreign owned firms within the country, but excludes the income from domestically owned firms located abroad, is called:
• G.N.P. (Gross National Product) is the total value of goods and services:
• National income accounting is the study of the income and expenditure of the entire -
• The study of whole economic systems aggregating over the functioning of individual units. Specifically, it is study of national economies and the determination of national income. It is known as
• Consumer goods that yield services or utility over time rather than being used up instantly are termed as
• Which one of the following is not included while estimating national income through income method?