Identify the correct statements from the following: A. Fees to a mechanic paid by a firm is not included in the estimation of national income B. Income tax paid by an individual is not included in national income C. Interest paid by a garment manufacture on a loan taken from bank is included in national income D. Payment of old age pension will not be included in national income as it is a transfer payment E. Insurance premium paid by household to an insurance company is not included in the estimation of national income Choose the correct answer from the options given below:

Question

Option 1: A, D, E only

Option 2: A, B, C, D only

Option 3: A, B, E only

Option 4: B, D, E only

AfterBoards · Accepted Answer

The answer is 'A, B, C, D only'. View full solution:

	Firm A	Firm B
Wages	20	60
Profits	30	90

List-I	List-II
(A) Capital consumption	(I) Value added
(B) Part of raw material which gets used up	(II) Intermediate consumption
(C) A stock variable	(III) Depriciation
(D) A flow variable	(IV) Inventory

CUET Economics PYQs

Keyboard Shortcuts