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Differentiate between retirement pensions and old age pensions in the context of estimation of national income.

Asked by Topperlearning User 15th April 2016, 2:30 PM
Answered by Expert
Answer:

Retirement pensions are like a deferred wage. These are relevant to factor services rendered earlier by the recipients and are included in the estimation of national income. Old age pensions are unilateral payments and are not included in the estimation of national income. 

Answered by Expert 15th April 2016, 4:30 PM
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