National income is:(a) Stock (b) Flow(C) Static concept (d) None of the above

What is national income?. Explain its concepts

Aspects considered in National Income:(a) Final goods and services are included in national income.(b) Produced goods in a financial year are included in national income.(c) Double counting is avoided.(d) Value is considered as per market price.Options:(1) a and c(2) b and c(3) a, c and d(4) a, b, c, and d

Identify which of the following measures are used to calculate national income.     a. Personal consumption expenditures:       b. Net foreign factor income:      c. Transfer payments:      d. Rents:      e. Consumption of fixed capital (depreciation):      f. Statistical discrepancy:      g. Social Security contributions:      h. Interest:      i. Proprietors’ income:      j. Net exports:      k. Dividends:      l. Compensation of employees:      m. Taxes on production and imports:      n. Undistributed corporate profits:      o. Personal taxes:      p. Corporate income taxes:      q. Corporate profits:      r. Government purchases:      s. Net private domestic investment:      t. Personal saving:      u. Gross private domestic investment:

National is the sum of wages (and other labor compensation), rent, interest, and profits.

Different methods to calculate national income?