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- Subject
- Basic of Economicseconomics-mcqs › basic-of-economics
- Published
- 26 May 2019
- Last updated
- 28 May 2026
Which approach is used to calculate the national income?
Multiple choice question for Basic of Economics. Select an option, then review the explanation below.
Explanation
National income can be determined using the expenditure approach, the income approach, or the output (product) approach. Therefore, all these methods are used to measure national income.
More Basic of Economics MCQs
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- 1.Which of the following best describes deflation?
- 2.Under what condition can two nations benefit from engaging in international trade?
- 3.Which of the following represents a legitimate form of currency?
- 4.Which political ideology is best summarized by the phrase, "From each according to his ability, to each according to his needs"?
- 5.Which type of currency experiences a decline in its exchange rate due to a continuous balance of payments deficit?