How are the following treated while calculating national income? Give reason for your answer. (i) Receipts from sale of land.
How are the following treated while calculating national income? Give reason for your answer.
(i) Receipts from sale of land.
(ii) Profit earned by the branch of an Indian bank in France.
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(i) Land is a free gift of nature and cannot be produced. So the sale of it is not included.
(ii) It is included as factor income from abroad.
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