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Ans – (a) Explanation:- Yes, there are only three methods (product, income and expenditure) to calculate the national income. Because three different phases of circular flow of income is production, income and expenditure.
No, It will not be included in the domestic factor income as the value of imports are deducted while estimation of domesitc factor income of a country. Explanation:- Imports are deducted while calculating domestic income from the expenditure Method. Domestic…
No, It will not be included in the domestic factor income as financial aid is a transfer income and no factor service is provided in return. Explanation:- Only factor income received against factor services is included in domestic income. The…
No, It will not be included in the domestic factor income as compensation is given by the insurance company to the employee and not by the employer. Explanation:- Only factor income received against factor services is included in domestic income.…
No, It will not be included in the domestic factor income as payment of fees to a Chartered Accountant is an intermediate expenditure for the firm. Hence, it is to be deducted from the value of output of the firm…
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.
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…