Is sale of land included in national income?

Gains on sale of land will not be included in the estimation of National Income. As the gains received due to increase in the price of land will not add to the flow of goods and services in the economy.

Is sale of an old house included in national income?

No, it will not be included in the national income as it does not add to current flow of goods and services. 58. Expenditure on the purchase of an old house.

Are subsidies included in national income?

National Income: Concept # 2. GDP at Market Price and GDP at Factor Cost: GDP at market prices does not reflect true incomes of factors of production. It includes taxes and subsidies but such are not production and, hence, they cannot be treated as incomes of productive inputs.

Will the commission given to a broker for sale of an old house be included in national income give reasons?

Broker’s commission on sale and purchase of second hand goods is included in national income because It is an income earned for rendering productive services.

Is services of owner occupied houses included in national income?

(i) Services of owner occupied houses. (i) Imputed rent of owner occupied houses will be included in national income.

Is money received from sale of second hand goods included in the national income or not give valid reason for your answer?

Money received from sale of second-hand goods. No, it will not be included in the national income bacause the sale of second-hand goods is transfer of ownership which does not add to current production.

Is brokers commission included in national income?

Is free services of owner occupied building included in national income?

(i) Services of owner occupied houses. (ii) Profit earned by foreign banks in India. (v) Windfall gains (like gains from lottery, war, etc.) will not be included in national income since there is no corresponding addition in the flow of goods and services.

Will the following be included in national income?

No, this will not be included in the national income as it is a transfer income.

How are following treated in the estimation of national income a money received from sale of second hand goods?

4) ​Money received from sale of second hand goods is not included in national income as their value has already been included in the year in which they were produced. 5) Imputed rent on self occupied houses is included in national income as its residents get the same services as its tenants would get.