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Ex Ante Consumption

Are the follo...

Question

Are the following statements true or false? Give reasons.
Goods produced for self-consumption will be included in national income.

A

True

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B

False

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Solution

The correct option is A True
Such goods contribute to the current output and their imputed value will be Included in national income.

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Q. Are the following statements true or false? Give reasons.
Production of services for self-consumption are not included in national income.

Q. Are the following statements true or false? Give reasons.
Free samples distributed by a business enterprise for advertisement will not be included in national income.

Q. Give reason or explain the following statements:

1) Income from second hand sale of goods is excluded from national income.
2) National income at factor cost includes subsidy.
3) National income estimates are accurate in India.
4) Old age pension is transfer income.
5) Paid services are included in national income.

Q. State whether the following statements are true or false.

1) National income is computed every year.
2) Inclusion of value of intermediate goods leads to double counting.
3) GDP includes net income from abroad.
4) Financial year in India is leap year.
5) Services of housewives are included in national income.

Q. Total consumption in the economy can never be more than national income.
True/False

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