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    Question

    National income is measured using the following

    methods: 1. Income Method 2. Product Method 3. Expenditure Method 4. Demand Method Which of the statements are correct?
    A 1 and 2 only Correct Answer Incorrect Answer
    B 1, 2, and 3 only Correct Answer Incorrect Answer
    C 1, 2, and 4 only Correct Answer Incorrect Answer
    D All of the above Correct Answer Incorrect Answer

    Solution

    National income is calculated using the Income Method (wages, rents, profits), Product Method (value of goods/services), and Expenditure Method (total expenditure). The Demand Method is not used (statement 4 is incorrect).

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