Explanation:

- Transfer Earnings: These are payments not made for goods or services, like pensions or gifts. They are not included in the national income as they do not reflect productive economic activity.

- Sale Proceeds of Shares and Bonds: These transactions are merely exchanges of ownership and do not contribute to the production of goods and services, so they are not part of the national income.

- Black Money: This is income not reported to tax authorities and operates outside the formal economy. It is not included in the national income because it is not officially accounted for.

- None of the Above: As none of the options contribute directly to the national income measure, this is the correct choice.

?? Correct Answer: 4. None of the Above