Student Community
Answer
Yes, purchase of goods by foreign tourists will be included in the domestic income as goods purchased by the tourist is the expenditure made by him in India. So, these are exports produced within the domestic territory.
No, gifts given by an employer to his employees on Independence Day will not be included in the domestic product as it is a transfer payment. Explanation:- The employees do not provide any factor services against gifts given by the…
Yes, It will be included in domestic factor income as it is a part of the domestic territory of India. Explanation:- Aeroplane owned by Indian, operating between any countries comes under the domestic territory of India The profits earned by…
No, The remittances from non-resident Indians to their families in India are not included in the domestic factor income because it is the current transfer from abroad. Explanation:- Domestic income only includes the factor income. The remittances received by families…
No, The windfalls gains are not included in the domestic factor income because they do not add to the flow of goods and services in the economy.
No, Capital gains are not included in the domestic factor income as they arise on account of rise in the prices of assets and do not add to the flow of goods and services in the economy.
No, The Service rendered by housewives are not included in the domestic factor income because it is difficult to find their market value, i.e., they are non-market transactions. Explanation:- The service rendered by housewives involves love and affection. Thus, market…
Yes, profits earned by a company partly owned by residents and partly owned by non-residents and located in India will be included in the domestic factor income as profits are earned within the domestic territory of India. Explanation:- The profits…
Yes, The Broker’s commission on the sale of second-hand goods is included in the domestic factor income because it is the income received by the broker in return for rendering his productive services.
Yes, Broker’s commission on the sale of an old car is included in the domestic factor income because it is the income received by the broker in return for rendering his productive services.