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Questions › JNU › JNU SSS 2011 › Q38
1 mark, −0.25Macroeconomics › National income accounting › The income and value-added methodsEasyabout 1 min

JNU SSS 2011 Question 38: National income accounting

Utensils worth Rs 1,500 are produced with steel costing Rs 750 and other materials costing Rs 150. Labour cost of producing these utensils is Rs 150 and depreciation of machinery is 0. The value added in producing these utensils is

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National income accounting has come up 132 times in 6 exams since 2010.

What this question tests

This question is on The income and value-added methods, part of National income accounting in Macroeconomics.

Measuring national product as factor incomes or as value added at each stage.

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Question from the JNU SSS 2011 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.