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SSC CGL 2022 PYQ — Question 27

SSC CGL - 06 Dec 2022 - Shift 1 • General Awareness • Q27

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Which of the following is NOT a feature of National Income?

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Correct answer: D

Explanation

The correct answer is Option 4 i.e. It is included only in intermediate goods.

The feature of National Income that is NOT true is that it is included only in intermediate goods. National Income refers to the total value of all final goods and services produced within a country's borders and by its residents over a specific period, typically a year. 

Other options:

  1. Macroeconomic concept: National income measures the total economic performance of a country, making it a macroeconomic concept.

  2. Flow concept: It represents the flow of goods and services over a period (usually a year), not a stock at a point in time.

  3. Expressed with reference to the financial year: National income is calculated annually, aligning with fiscal or calendar years.

Thus, the last option is incorrect because national income excludes intermediate goods and focuses on final output.