The correct answer is (4) a, b, c, and d.

Here's why:

(a) Final goods and services are included in national income. This is true because national income accounts only consider the value of final goods and services, not intermediate goods, to avoid double counting.

(b) Produced goods in a financial year are included in national income. This is also true. National income is a measure of the value of goods and services produced in a country during a specific period, typically a year.

(c) Double counting is avoided. This is correct. In calculating national income, care is taken to ensure that goods and services are not counted more than once.

(d) Value is considered as per market price. This is true as well. The value of goods and services in national income is calculated at their market prices, which includes indirect taxes and subsidies.

So, all the aspects mentioned in options a, b, c, and d are considered in the calculation of national income.

Question

The correct answer is (4) a, b, c, and d.

Here's why:

(a) Final goods and services are included in national income. This is true because national income accounts only consider the value of final goods and services, not intermediate goods, to avoid double counting.

(b) Produced goods in a financial year are included in national income. This is also true. National income is a measure of the value of goods and services produced in a country during a specific period, typically a year.

(c) Double counting is avoided. This is correct. In calculating national income, care is taken to ensure that goods and services are not counted more than once.

(d) Value is considered as per market price. This is true as well. The value of goods and services in national income is calculated at their market prices, which includes indirect taxes and subsidies.

So, all the aspects mentioned in options a, b, c, and d are considered in the calculation of national income.

Knowee AI · Accepted Answer

The correct answer is (4) a, b, c, and d.

Here's why:

(a) Final goods and services are included in national income. This is true because national income accounts only consider the value of final goods and services, not intermediate goods, to avoid double counting.

(b) Produced goods in a financial year are included in national income. This is also true. National income is a measure of the value of goods and services produced in a country during a specific period, typically a year.

(c) Double counting is avoided. This is correct. In calculating national income, care is taken to ensure that goods and services are not counted more than once.

(d) Value is considered as per market price. This is true as well. The value of goods and services in national income is calculated at their market prices, which includes indirect taxes and subsidies.

So, all the aspects mentioned in options a, b, c, and d are considered in the calculation of national income.

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