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Answer
Answer Yes, It will be included in the national Income as these free services such as free boarding and lodging provided to a domestic servant are part of compensation to employees.
Answer Yes, It will be included in national Income as these free services are part of compensation to employees.
Answer No, It is an intermediate expenditure for the firm because it involves the purchase of services by one production unit (firm) from another production unit (lawyer). So, it is deducted from the value of the output of the firm…
Answer:- Yes, It will be included in the national income as it is a part of the factor income from abroad. National Income = Domestic Income + Net Factor income from abroad (Factor income from abroad – Factor income to…
Yes, Purchases by foreign tourists are ‘exports’ and, therefore, they are included in the national income through the Expenditure Method.
Yes, purchases by foreign tourists are ‘exports’ and, therefore, they are included in the national income through the Expenditure Method.
No, It is not included in the national income as it is a part of the factor income paid abroad. It is subtracted from domestic income to arrive at the national income.
Yes, It is included in the national income by Income Method since it is a part of ‘Wages in Kind’ paid to employees. Explanation:- A rent-free house is one of the item of Wages in Kind. Wages in Kind is…
No, Interest on public debt is not included in the national income as it is the interest paid on loans taken by the government to meet its consumption purposes and does not add to the flow of goods. Explanation:- Interest…
No, National Debt interest is not included in the national income as it is the interest paid on loans taken by the government to meet its consumption purposes and does not add to the flow of goods. Explanation:- National Debt…