Question

What to be included and what not while calculating national income?

Answer 1

Heya....

While counting national income we should not include these terms...

* Value of intermidiate goods...

* Value of second hand goods....

* Windfall income likes lottery.....

* Self use works cost like dropping children to school by parents....

We must include.....

* Commission on second hand goods...

* Only value of final goods is considered..

* Imputed rent on self consumption good is counted...