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No, Goods and services tax received by the government will not be included in the national income as it is an indirect tax and a compulsory transfer payment received by the government. Explanation: Any tax to the government is a…
No, Payment of death duty will not be included in the national income as it is a compulsory transfer payment to the government. Explanation: Any tax to the government is a transfer payment as the government does not guarantee any…
No, The payment of interest tax will not be included in the national income as it is a compulsory transfer payment to the government. Explanation: Any tax to the government is a transfer payment as the government does not guarantee…
Yes, It will be included in the national income as it is a part of capital formation. It adds to the present stock of capital during the year and leads to capital formation. Capital formation is included in national income…
No, the transport expenses by a firm 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 final product of…
No, Expenditure on the purchase of cold drinks by a school canteen 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…
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…