Maharashtra State BoardHSC Commerce 12th Board Exam
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State Whether the Following Statements Are True Or False with Reason: Ten Years Period is Considered for Measuring National Income. - Economics

State whether the following statements are True or False with reason: 

Ten years period is considered for measuring National Income.

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Solution

False, one year period is considered for measuring national income.
Explanation:
National income is the total market value (in monetary terms) of all final goods and services produced by the firms during an accounting year. Thus, only one year period is considered while measuring national income.

Concept: Concept of National Income
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