Money and real income are included in the family income in the following means –

Correct option is B

Family income includes both money income and real income to give a more comprehensive picture of the resources available to a household.
· Money income refers to the actual cash income received by a family, such as wages, salaries, pensions, and other monetary transfers.
· Real income reflects the purchasing power of the money income, adjusted for inflation, and considers the goods and services that the income can buy.
Information Booster: Money income is the cash income received, while real income takes into account the effect of inflation and the actual quantity of goods and services that can be purchased. Adding both gives a clearer understanding of a family's economic standing. In an inflationary economy, real income can decrease even if money income increases, as the prices of goods and services rise.
Additional Knowledge:
· Money Income – Real Income (Option a) is not the correct relationship because real income is adjusted for the cost of living, and subtracting it from money income would not give an accurate picture of the family’s economic capacity.
· Money Income × Real Income (Option c) and Money Income ÷ Real Income (Option d) are mathematically incorrect ways of combining these two income components.