Which of the following is included in national income?
i. Transfer income
ii. Interest
iii. Commission on sale of second hand goods
iv. Purely financial transactions
v. Rent
vi. Wages

ii, iii, v, vi

The correct answer is Option 4: ii, iii, v, vi
Let's analyze each option:

i. Transfer income: Transfer incomes being unilateral transfers are not included in national income as there is no corresponding goods or services produced. Transfer income, such as social security payments and welfare benefits represents income redistribution rather than the production of goods and services.

ii. Interest: Interest earned on loans, bonds, or savings accounts is included in national income as part of the income earned by individuals and businesses.

iii. Commission on sale of second-hand goods: Commissions earned on the sale of second-hand goods represent income earned through a service and are included in national income.

iv. Purely financial transactions: Purely financial transactions, such as buying and selling stocks or bonds without producing goods or services, are not included in national income because they do not represent production.

v. Rent: Rent earned from land, buildings, or other property is included in national income as part of the income earned by individuals and businesses.

vi. Wages: Wages earned by individuals for their labor are a significant component of national income.