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
The Five Year Plan was first launched in
Which of the following was/were the feature(s) of Lenin’s New Economic Policy (NEP) for the Soviet Union?
1) Private retail trading was strictly forbidden
2) Private enterprise was strictly forbidden
3) Peasants were not allowed to sell their surplus
4) To secure liquid capital, concessions were allowed to foreign capitalists, but the State retained the option of purchasing the product of such concerns
Select the correct answer using the code given below:
Which one of the following was set as a target of average growth of GDP of India over the plan period 2012-2017 by the Approach Paper to the Twelfth Five year Plan?
In ________ economies, all productive resources are owned and controlled by the government.
Private ownership of the means of production is a feature of a _______ economy.
