Question : Which of the following is not included in the calculation of national income?
Option 1: Wages and salaries
Option 2: Operating surplus
Option 3: Rental income
Option 4: Transfer payments
Answer (1)
23rd Jan, 2024
Correct Answer: Transfer payments
Solution : The correct answer is d) Transfer payments.
Transfer payments are not included in the calculation of national income. National income measures the total income earned by individuals and entities within a country's borders during a specific time period. It includes various components of income, but transfer payments, which are payments made without any corresponding production of goods or services, are not considered part of national income.
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