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National Income can be calculated in all except one of the following ways :
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- sum of all expenditures
- sum of all outputs
- sum of all savings
- sum of all incomes
- sum of all expenditures
Correct Option: C
The national income of a country can be measured by: (i) Product Method or the Output Method (ii) Income Method, and (iii) Expenditure Method. The output approach focuses on finding the total output of a nation by directly finding the total value of all goods and services a nation produces. The expenditure approach is basically an output accounting method. Under the Income method, national income is measured as a flow of factor incomes.