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Question

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> Which of the following statements show the link between unpaid services and national income?

A
CSO can set any value for unpaid services to calculate national income
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B
Unpaid services falls outside the nation income accounting
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C
Certain unpaid services have a standardised price, which is taken into account when calculating national income
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D
Valuing unpaid services to calculate nation income is a challenging task
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Solution

The correct option is D Valuing unpaid services to calculate nation income is a challenging task
The practical difficulties in measuring the monetary value of unpaid services, such as help from family, friends and relatives have caused problems. This poses a considerable challenge to measuring national income.
People's unpaid work for themselves and their families is not traded in the market, so there is no trade to track.

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