Question
National Income include :
Answer: Option B
Answer: (b)
National income is the total value of a country’s final output of all new goods and services produced in one year.
So the construction of a new house is certainly output of goods. Transfer payments are not a part of the national income.
So private sector transfers including charitable donations and prizes to lottery winners are excluded from it.
Was this answer helpful ?
Answer: (b)
National income is the total value of a country’s final output of all new goods and services produced in one year.
So the construction of a new house is certainly output of goods. Transfer payments are not a part of the national income.
So private sector transfers including charitable donations and prizes to lottery winners are excluded from it.
Was this answer helpful ?
More Questions on This Topic :
Question 1. What is included in the Tetiary sector ?
....
Question 5. Transfer payments include :
....
Question 6. Who said ‘Supply creates its own demand’?
....
Question 8. Personal disposable income is
....
Question 9. Per capita income =
....
Latest Videos
Latest Test Papers
Submit Solution