Question : Which of the following is not a feature of National Income?
Option 1: It is a macroeconomic concept.
Option 2: It is a flow concept.
Option 3: It is always expressed regarding the particular financial year.
Option 4: It is included only in intermediate goods.
Correct Answer: It is included only in intermediate goods.
Solution : The correct answer is It is included only in intermediate goods .
National income includes the total value of all goods and services produced within a country's borders, regardless of whether they are intermediate or final goods. It comprises the sum of all value added at each stage of production, from raw materials to intermediate goods to final goods and services.
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