In the context of national income accounting, which of the following is a transfer payment and not included in national income? MCQ with Answer and Explanation
In the context of national income accounting, which of the following is a transfer payment and not included in national income?
A. Profits
B. Wages and salaries
C. Interest on public debt
D. Rent
Answer: Option C
Solution (By JKSSB Mock Tests)
Interest on public debt is a transfer payment and is not included in national income as it does not correspond to any current production of goods or services.
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