The GDP estimation method measuring the aggregate value of goods and services produced by the firms is called _______.

Correct option is D

The correct answer is (d) Product Method.

• The Product Method, also known as the Output Method or Value-Added Method, is used to estimate GDP by calculating the aggregate value of goods and services produced by firms in an economy during a specific period.
• This method sums up the value added at each stage of production, taking into account only the final value of goods and services to avoid double counting.

Explanation of Other Options:

• Expenditure Method: This method calculates GDP by summing up all expenditures made in the economy, including consumption, investment, government spending, and net exports.
• Consumption Method: There is no separate "consumption method"; this term might refer to consumption as part of the expenditure method.
• Income Method: This method estimates GDP by calculating the total income earned by factors of production, such as wages, rent, interest, and profits.