Whether the following items will be included in National Income ? Give reasons for your answer. a book gifted by your uncle on your birthday
Dear student,
A book gifted by your uncle on your birthday is a Transfer Income as while receiving a gift nothing is paid in consideration. Transfer income is not included in National Income thus the gift received is not included in National Income.
Regards
A book gifted by your uncle on your birthday is a Transfer Income as while receiving a gift nothing is paid in consideration. Transfer income is not included in National Income thus the gift received is not included in National Income.
Regards