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Answer
No, value of wood purchased for manufacturing a table will not be included in the national income as it is a part of intermediate consumption expenditure. Explanation:- National Income only counts the value of final goods. The value of wood…
No, It is a part of National wealth and is not included in national income. However, that part of mineral wealth that has been extracted during the current year will be included in national income under the product method.
Yes, It is included in the national income as it is a part of the private final consumption expenditure. Students are provided services in the form of education and training in return of fees received. It adds to the flow…
Yes, It is included in the national income as it is a part of the private final consumption expenditure Explanation:- The household receives the services of the insurance company in return of the insurance premium paid. It adds to the…
Yes, Government expenditure on street lighting will be included in the national income as it is a part of the government final consumption expenditure. Explanation:- The government spends generally for the welfare of the society. It includes maintaining law and…
Yes, Expenditure by government on providing free educational services will be included in the national income as it is a part of the government final consumption expenditure. Explanation:- The government spends generally for the welfare of the society. It includes…
Yes, Expenditure on free services provided by government will be included in the national income as it is a part of the government final consumption expenditure. Explanation:- The government spends generally for the welfare of the society. It includes maintaining…
Yes, It will be included in the national income as it is a part of the government final consumption expenditure. Explanation:- The government spends generally for the welfare of the society. It includes maintaining law and order, security and providing…
No, The services rendered by family members to each other will not be included in the national income as it is difficult to determine the value of services provided by family members to each other. Explanation:- Services rendered by family…
No, Growing vegetables in a kitchen garden of the house will not be included in the national income as it is difficult to estimate the value of production (it is a non-market transaction). Explanation:- It is a leisure time activity…