Bharat is living in his own house. So, rent of his house should not be included in national income
True or False with Reasons:
Bharat is living in his own house. So, rent of his house should not be included in national income.
Anurag Pathak Changed status to publish December 11, 2023
False,
Bharat also enjoys housing services similar to those people who stay in rented houses. So, the imputed rent of his house will be included in national income.
Explanation:-
Bharat is enjoying the services of his own house. If he was living in a rented house, he would have been paying the rent of it.
The market rent of his own house can be estimated with the available data.
As per the concept, If the market value of the goods and services used for his own consumption can be ascertained, it will be included in the national income.
Thus imputed rent of Bharat house will be included in the national income.
Anurag Pathak Changed status to publish December 11, 2023
