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National Income Accounting

Question
CBSEENEC12013329
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While estimating national income, how will you treat the following? Give reasons for your answer.
(i)    Imputed rent of self-occupied houses.
(ii)    Interest received on debentures.
(iii)    Financial help received by flood victims.

Solution

(i) Imputed rent is included because it is a part of factor income generated by self-occupied houses by providing housing services.
(ii) Included because interest is a part of factor income generated by debentures.
(iii) Not included as Financial help to flood victims is merely a transfer payment.

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Briefly explain the following basic concepts related to NI:
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Giving reasons categorise the following into intermediate products and final products:
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(ii) Chalks, dusters purchased by a school.

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