Assertion (A): The value of a homemaker's work is left out of national income.
Reason (R): Only goods and services that are bought and sold, or can be valued at market prices, are counted.

Both A and R are true, and R is the correct explanation of A.Correct answerYour answerBoth A and R are true, but R is not the correct explanation of A.Correct answerYour answerA is true, but R is false.Correct answerYour answerA is false, but R is true.Correct answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer A

Correct answer: A

Homemaking is not sold in a market and there is no agreed way to value it, so it is left out.
R states the rule that explains A. (Production for own use, such as a farmer's grain, is an exception because it can be valued.)

Concept: Market valuation
Typical timeTypical: 100 s
Your timeYours: —

The rule this testsWhat is counted and what is not

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Ten questions from Measuring National Income, at your own pace.

Assertion (A): The value of a homemaker's work is left out of national income.Reason (R): Only goods and services that are bought and sold, or can be valued at market prices, are counted.

Explanation

Assertion (A): The value of a homemaker's work is left out of national income.
Reason (R): Only goods and services that are bought and sold, or can be valued at market prices, are counted.