GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which is not included in the private income arising in a country?
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Factor income from net domestic product
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Net factor income from abroad
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Current transfers from Government
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Current Payments on foreign loans
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Explanation:
Detailed explanation-1: -So, this concept of private income is quite broader than that of personal income as private income consists of personal income + profit tax + the undistributed profit. This is required to be kept in mind that the net factor income from abroad is also allocated to the private sector and not to the government sector.
Detailed explanation-2: -Personal income is nothing but the income left from the private income after giving corporation tax and saving of Private corporate sector.
There is 1 question to complete.