Question

State whether the following statements are True or False. (Give reasons)
National Income includes only transfer income.​

Answer 1

Answer:

False

Explanation:

Private income includes both earned income factor income as well as unearned income transfer income of private sector from all sources.

Answer 2

Answer:

no

Explanation:

also the expenses like forin toys materials

Eg: if india can produse enough oil it can reduse the amount spent on oil (or petrolium)