Question

When calculating the national Income which of the following will not be considered?

विकल्प

• Windfall gains

• National Debt Interest

• Purchase of second-hand goods

• All of the above

Answer 1

All of the above

Explanation:

Things excluded from National Income:

1. Income from illegal activities such as smuggling, theft, gambling, and so on should be excluded.
2. The implied rent of an owner-occupied structure and the value of production for self-consumption are included, but the value of self-consumed services, such as those provided by a housewife, is not.
3. Brokerage on the purchase and sale of stocks and bonds is to be included.
4. Windfall gains should not be included in income.
5. Transfer earnings such as old-age pensions, unemployment benefits, scholarships, pocket expenses, and so on should not be considered.