Question : Which of the following is not included in the calculation of national income?
Option 1: Rental income
Option 2: Interest income
Option 3: Dividend income
Option 4: Gift received from a friend
Correct Answer: Gift received from a friend
Solution : The correct answer is d) Gift received from a friend.
In the calculation of national income, gifts received from friends or others are not included. National income measures the total income generated by the production of goods and services within a country's borders over a specific period.
It's important to note that the calculation of national income may vary depending on the specific methodology used and the country's national accounting framework. However, in general, gifts received from individuals are not considered as part of national income as they do not represent production or economic activity.
Option 4: Transfer payments
Question : Which of the following is included in the calculation of national income?
Option 2: Dividend income
Option 3: Interest income
Option 4: All of the above
Option 3: Capital gains
Option 4: Wage income
Option 4: Sales tax
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