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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…
Yes, It will be included in the national income as it is the income of the dealer for his productive services. dealer provides its services in this whole transaction for sale make happen. He arranges the meetings of the various…
Yes, Expenditure on the construction of a flyover by the government will be included in the national income as it is a part of gross domestic capital formation. Expenditure on the construction of a flyover is part of government fixed…
Yes, It is included in the national income because it adds to the current flow of goods and services. Therefore its imputed value should be included. Let’s understand it Wheat grown by a farmer has the market price. It would…
Yes, The value of interest foregone on loans provided by employers to employees will be included in the national income as it is a part of the compensation to employees. Explanation:- Interest-free loans by employers to employees is just part…
Yes, It will be included in the national income as it is a part of the compensation to employees. Compensation of employees comprises of two components. Compensation of Employees = Salary & Wages + Employer’s Contribution to Social Security Schemes…
Yes, It will be included in the national income as people living in such houses enjoy housing services similar to those in rented houses. Imputed rent refers to the rent (as per the market value) of self-occupied houses. If the…
No, It will not be included in the national income because receipt from the sale of second-hand car is by virtue of transfer of an already existing object and it does not contribute to the current flow of goods in…