UPSC CSE Prelims

Correct Option: D Explanation: The intended national-income measure is the value of final goods and services produced during a period, avoiding double-counting of intermediate inputs. Option-wise Analysis: A: Incorrect - Incomplete: production by nationals may refer to GNP but needs precise valuation and accounting for net factor income. B: Incorrect - Wrong: consumption plus investment omits government and net external spending in expenditure accounting. C: Incorrect - Wrong: aggregate personal income is not the same as national income. D: Correct - Correct in the exam’s simplified sense: value of final goods and services is the output-accounting basis. Review Note: Strictly, “money value of final goods and services produced” describes GDP; national income conventionally refers to NNP at factor cost (with cross-border income and depreciation adjustments). Preserve supplied answer D with this qualification.