Which of the following will NOT be included in the estimation of national income? (i) Expenses on electricity by a factory (ii) Financial help to earthquake victims (iii) Imputed value of production for self-consumption (iv) Brokerage on sale of bonds
Both (i) and (ii)
National income includes all goods and services produced within a country. Expenses on electricity by a factory are considered production costs, and financial help to earthquake victims is a transfer payment, not part of GDP. Therefore, both (i) and (ii) are not included in national income calculation.
Important Questions from Economy
When goods are produced by exploiting natural resources, it is an activity associated with:
A system in which local farmers were allowed to cultivate temporarily within a plantation is known as:
Which goods from India dominated the international textile markets before the age of mechanized industries?
Which type of farming is practiced in areas of high population pressure on land?
The major economic attribute for comparing countries is their:
