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Question : 1
Total: 5
State any two precautions that are taken while estimating National income by value added method.
Solution:
Two precautions that are taken while estimating National Income by value added method are the as follows:
1. The Value of buying and selling second hand goods is not taken into consideration while calculating national income by the value added method.
2. The imputed value of goods produced for self-consumption must be taken into consideration.
1. The Value of buying and selling second hand goods is not taken into consideration while calculating national income by the value added method.
2. The imputed value of goods produced for self-consumption must be taken into consideration.
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