Question

what are the precoution taken while estimeting the national inconme by income method
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Answer 1

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

Answer 2

Explanation:

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