Question : Which of the following precautions are taken while calculating national income from income method?
Option 1: Transfers income are not included in the national income.
Option 2: Income from sale of secondhand goods will not be included.
Option 3: Income from sale of shares, bonds and debentures will not be included.
Option 4: All of the above.
Answer (1)
23rd Jan, 2024
Correct Answer: All of the above.
Solution :
The precautions taken while calculating national income from income methods are-
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Transfers income are not included in the national income.
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Income from sale of secondhand goods will not be included.
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Income from sale of shares, bonds and debentures will not be included.
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Income from lottery, horse race, etc or not included.
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Imputed value of services provided by the owners of production unit will be included.
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Payments out of past savings are not included.
Hence, Option D is correct.
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