Question : Which of the following precautions are taken while calculating national income from income method?

Option 1: Transfers income are not included in the national income.

Option 2: Income from sale of secondhand goods will not be included.

Option 3: Income from sale of shares, bonds and debentures will not be included.

Option 4: All of the above.

Question : Which of the following are the precautions of calculating national income through expenditure method?
 

Option 1: Expenditure on intermediate goods will not be included.
 

Option 2: Transfer payments are not included.

Option 3: Purchase of secondhand goods will not be included

Option 4: All of the above.

Question : Which of the following are the precautions of value added method?

Option 1: Intermediate goods or not to be included in the national income.

Option 2: Change the stock of goods will be included.

Option 3: Imputed value of owners occupied houses should be included.

Option 4: All of the above.

Question : Which of the following are the precautions of value added method?

Option 1: Sale and purchase of second hand goods is excluded.

Option 2: Production of service for self consumption or not included. (Housewives, etc.)

Option 3: Production of goods for self consumption will be included.

Option 4: All of the above.

Question : Which of the following incomes will not be included in the National Income Calculation?

Option 1: Commission income of a share broker

Option 2: Individual's income from share broker sale of shares

Option 3: Income of a joker in a circus company

Option 4: Income of a commercial artist

Question : While using the income method to compute national income, which of the following is not to be included?
A) Income from lottery
B) Brokerage on sale and purchase of shares
C) Income from illegal activities like gambling

Option 1: A, B and C

Option 2: B and C

Option 3: A and B

Option 4: A and C