If value added at different stages is summed-up, the total will:
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1 mark, −0.33MacroeconomicsNational income accountingThe income and value-added methodsEasyabout 1 min
UoH 2015 Question 7: National income accounting
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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 UoH 2015 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.