Giving reason, explain how the following should be treated while estim

1.	Giving reason, explain how the following should be treated while estimating national income:(i) Payment of excise duty by a firm.(ii) Payment of interest by a firm.
Answer» Reasons: (i) Payment of excise duty only increases the market value of final goods and services. Therefore, this is not included in the estimation of national income. (ii) Payment of interest by a firm is included in the national income because a firm takes loans for productive purposes.

Giving reason, explain how the following should be treated while estimating national income:(i) Payment of excise duty by a firm.(ii) Payment of interest by a firm.

Answer»

Reasons:

(i) Payment of excise duty only increases the market value of final goods and services. Therefore, this is not included in the estimation of national income.

(ii) Payment of interest by a firm is included in the national income because a firm takes loans for productive purposes.

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Giving reason, explain how the following should be treated while estimating national income:(i) Payment of excise duty by a firm.(ii) Payment of interest by a firm.

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