Economy, asked by radhikaparmar83, 10 months ago

what are the precautions to be taken while calculating national income through income method

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Answers

Answered by dadslover919

For correct computation of national income by income method, followingprecautions need to be taken: (i) Only factor incomes which are earned byrendering productive services are included. All types of transfer incomelike old-age pension, unemployment allowance, etc. are excluded.

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Answered by Anonymous

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1. Expenditure on only final goods and services should be included in the national income estimation while intermediate consumption expenditure should not be included.

2. Similarly, expenditure on the purchase of second hand goods should not be included in the national income estimation of the current accounting year.✔️✔️

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