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Q. While calculating the National Income, which of the following statements are not considered?
  1. Services of housewives.
  2. Capital gains.
  3. Transfer payments.
Select the correct answer using the code given below:

  1. 1 only

  2. 1 and 2 only

  3. 2 and 3 only

  4. 1, 2 and 3


Solution

The correct option is D
1, 2 and 3
Explanation:

None of the above items are considered while calculating National Income.
Some of the items that are not included in the measurement of National Income are
  • Services of housewives
  • Black money
  • Capital gains
  • Transfer payments
  • Goods made for self-use
  • Old goods

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