Remittances from a relative working abroad are ........

Remittances from a relative working abroad are:

included in national income

not included in national income

transfer payments

both (b) and (c)

- Option 1: Included in national income

- National income counts domestic production and earnings within the country's borders.

- Remittances are funds transferred from abroad and not a product of domestic production.

- Option 2: Not included in national income

- Remittances are not part of the country's economic production.

- They do not contribute to GDP calculation.

- Option 3: Transfer payments

- Remittances are transfers from one individual to another.

- Transfer payments refer to financial transactions where no goods/services are exchanged.

- Option 4: Both (b) and (c)

- Remittances are not part of national income.

- They are considered transfer payments.

Answer: Option 4 - both (b) and (c)

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