Use app×
Join Bloom Tuition
One on One Online Tuition
JEE MAIN 2025 Foundation Course
NEET 2025 Foundation Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
0 votes
1.5k views
in Economics by (76.1k points)

Give reasons explain how the following are treated while estimating national income : 

1 Answer

+1 vote
by (74.4k points)
selected by
 
Best answer

(i) Payment of fees to a lawyer engaged by a firm: Not included as it is intermediate consumption. It is services used in production 

(ii) Rent free house to an employee by an employer: Included as it is wages & salaries in kind form. 

(iii) Purchase by foreign tourists: Included as it is export, & value of net export is included in GDP.

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...