Complete the following statement
1) While estimating national income, we include only the value of final goods and services in order to _________.
a) make computation easier
b) avoid double counting
c) maximize national welfare of the people
d) evaluate the total economic performance of a nation
Ans:- b) avoid double counting
2) NDP is obtained by ___________.
a) deducting depreciation from GNP
b) deducting depreciation from GDP
c) including depreciation in GDP
d) including depreciation in GNP
Ans:- b) deducting depreciation from GDP
3) In India, national income is estimated using ___________.
a) output method
b) income method
c) expenditure method
d) combination of output and income method
Ans:- c) expenditure method