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National Income Accounting
Question
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Explain components of factor income.

Answer

(i)    Compensation of employees (traditionally called wages)
(ii)    Rent
(iii)    Interest
(iv)   Profits ( = Dividend + Pprofit tax + Undistributed profit)
(v)    Mixed income.
Sum of these components is called Domestic Income or NDPFC.

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Some More Questions From National Income Accounting Chapter

Briefly explain the following basic concepts related to NI:
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Briefly explain the following basic concepts related to NI:
National Income at Current and Constant Prices (Nominal and Real NI).

Briefly explain the following basic concepts related to NI:
Consumption of Fixed Capital (Depreciation).

Briefly explain the following basic concepts related to NI:
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Briefly explain the following basic concepts related to NI:
Net Factor Income from Abroad (NFIA)

Briefly explain the following basic concepts related to NI:
Value of Output vs. Value Added

Briefly explain the following basic concepts related to NI:
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Briefly explain the following basic concepts related to NI:
Sources of Domestic Income

Briefly explain the following basic concepts related to NI:
Sectors of an Economy

Giving reasons categorise the following into intermediate products and final products:
(i) Furniture purchased by a school.
(ii) Chalks, dusters purchased by a school.