Match the following groups: Group A 1) Income method 2) Unemployment allowance 3) Disposable income 4) National Income 5) 
Group B a) Personal income — direct taxes b) Money value of goods and services c) Factor cost method d) Personal income — subsidy e) Transfer payment f) 
—Depreciation g) Output method h) Transfer income
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According to National Income committee, “National Income (NI) is the value of goods and services produced in an economy during a given period without duplication”. Four things must be kept in mind regarding this definition:
It is measured in terms of money
The value of goods and services must be counted only once. Therefore, only the value of final goods and service (and not the intermediary goods) are used while calculating National Income.
The value of goods and service produced previously is not included in NI.
Since 1955, Central Statistical Organization (CSO) has been estimating National Income for the country. The Central Statistical Organization has divided the whole of the economy into 3 broad sectors for the purpose of calculating NI.
It is measured in terms of money
The value of goods and services must be counted only once. Therefore, only the value of final goods and service (and not the intermediary goods) are used while calculating National Income.
The value of goods and service produced previously is not included in NI.
Since 1955, Central Statistical Organization (CSO) has been estimating National Income for the country. The Central Statistical Organization has divided the whole of the economy into 3 broad sectors for the purpose of calculating NI.
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