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Question
Which one of the following is not included in the estimation is national income?
Options
Value of goods produced for self-consumption
Own account production of fixed assets
Services of housewives
Imputed rent of owner occupied houses
MCQ
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Solution
Services of housewives
Explanation:
Services of housewives are not included in national income estimation because they are non-market activities and do not involve monetary transactions, even though they contribute to welfare. National income includes only paid and monetised economic activities.
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