Which of these is NOT included in national income?

Salary of a teacherCorrect answerYour answerOld-age pension paid by the governmentCorrect answerYour answerRent received by a landlordCorrect answerYour answerProfit of a shopkeeper's firmCorrect answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer B

Correct answer: B

A pension is a transfer payment: nothing is produced in return in the current year.

Concept: Transfer payments
Typical timeTypical: 40 s
Your timeYours: —

The rule this testsWhat is counted and what is not

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Which of these is NOT included in national income?

Explanation