Economics · National Income
Consider the following statements: (1) Transfer payments are excluded from national income. (2) Imputed rent of owner-occupied houses is included in national income. (3) Capital gains are included in Gross Domestic Product (GDP). Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11, 2 & 3
- 21 only
- 32 & 3 only
- 41 & 2 only✓
Correct answer
1 & 2 only
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