MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Adjusting for Inflation

Explain how t...

Question

Explain how the following are treated in estimating National Income:
Services rendered by family members to each other.

Open in App

Solution

Treatment of services rendered by family members to each other while calculation national income:
Imputed value of self-consumed services rendered by family member to each other is not included in the national income.

Suggest Corrections

thumbs-up

0

Similar questions

Giving reasons, explain how should the following be treated in estimating National Income:

(i) Interest paid by banks on deposits by individuals

(ii) National debt interest

Q. Explain how the following are treated in estimating National Income:
Wheat grown by a farmer for self-consumption

Q. How should the following be treated in estimating national income of a country ? You must give reason for your answer.
(i) Taking care of aged parents
(ii) Payment of corporate tax.
(iii) Expenditure on providing police services by the government

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. Explain how the following are treated in estimating National Income:
Earnings of the shareholders from the sale of shares.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Adjusting for inflation

ECONOMICS

Watch in App

explore_more_icon

Explore more

Adjusting for Inflation

Standard XII Economics

Join BYJU'S Learning Program

CrossIcon